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Kahiltna Company, a manufacturer of air conditioners, sold 100 units to LeConte Company on November...

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Accounting

Kahiltna Company, a manufacturer of air conditioners, sold 100 units to LeConte Company on November 17, 2019. The units have a list price of $400 each, but LeConte was given a 20% trade discount. The terms of the sale were 2/10, n/30. Kahiltna uses a periodic inventory system.

Question: Kahiltna's journal entries to record a full payment by LeConte on December 10, 2019, using the net method of accounting for purchase discounts would include:

a debit to interest expense of $640

a debit to interest expense of $800

a debit to accounts payable of $31,200

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