February 1, Adams Company sold merchandise on credit with a list price of $8,400. Terms were 3/15, n/45. Which of the following entries correctly applies the indicated method to receive the appropriate customer payment on February 12?
A) ?Net Price MethodCash 8,400Sales Revenue 252Accounts Receivable 8,148
B) ?Gross Price MethodCash 8,400Accounts Receivable 8,400
C) ?Net Price MethodCash 8, 148Accounts Receivable 8, 148
D) ?Gross Price MethodCash 8,148Accounts Receivable 8, 148
C
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