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On May 1, Your Company sold merchandise in the amount of $15,500, with credit terms...

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Accounting

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On May 1, Your Company sold merchandise in the amount of $15,500, with credit terms of 3/10, n/30. The cost of the items sold is $9,000. Your Company uses the perpetual inventory system. You received payment on May 8. Which journal entry records the May 6 transaction? Cash Revenue ccounts Receivable 15,035 465 15,500 Cash Sales discount Accounts Receivable 8,730 270 9,000 15,035 Cash Accounts Receivable 15,035 Cash Sales discount Accounts Receivable 15,035 456 15,500 Cash Revenue Accounts Receivable 15,035 465 15,500 Cash Sales discount Accounts Receivable 8,730 270 9,000 15,035 Cash Accounts Receivable 15,035 Cash Sales discount Accounts Receivable 15,035 456 15,500 15,500 Cash Accounts Receivable 15,500

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