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(Solved): Riley Company uses the net method to record sales discounts. Riley sold merchandise on account for $ ...



Riley Company uses the net method to record sales discounts. Riley sold merchandise on account for $20,000 with terms 2/10, n/30. The cost of the merchandise sold was $12,000. The buyer paid after the discount period ended. Riley's journal entry to record the payment will include: Question 11 options: credit accounts receivable $20,000 debit sales revenue $400 debit accounts receivable $19,600 credit sales revenue $400



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