Question

Coronado Industries made a $24600 sale on account with the following terms: 3/10, n/30. If the company uses the gross method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale

Answer 1

Answer:

The debit in the journal entry to record the sale will be : Trade Receivable $24600

Explanation:

The journal entry to record this transaction will be :

Trade Receivable $24600 (debit)

Sales Revenue $24600 (credit)