A journal entry with a debit to cash of $980, a debit to Sales Discounts of $20, and a credit to Accounts Receivable of $1,000 means that a customer has taken a 10% cash discount for early payment.
Answer the following statement true (T) or false (F)
False
$20/$1,000 = 2% discount
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Answer the following statement true (T) or false (F)
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Answer the following statement true (T) or false (F)
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