The Sales Discounts Forfeited account . Select one: A. represents additional sales revenue B. is a contra Sales Revenue account C. is a balance sheet account D. represents the discount lost when a customer does not pay within the discount period

D) represents the discount lost when a customer does not pay within the discount period

Explanation:

When a business uses the net method for accounting sales and purchases, they include all the possible discounts in the sales or purchases that they make. E.g. a store that sells $1,000 in merchandise and offers a 3% discount within 10 days (3/10, n/30) will record accounts receivable and sales revenue at $9,700 since it expects its customers to pay within the discount period.

Dr Accounts receivable 9,700

    Cr Sales revenue 9,700

But if the customers do not pay within the discount period, accounts receivables and sales revenue must be adjusted. The sales discounts forfeited account should be used to adjust both accounts by increasing sales revenue and at the same time debiting accounts receivable fro $300.

Dr Accounts receivable 300

    Cr Sales discounts forfeited 300

b $274.07

step-by-step explanation:

you just devide 222 by 0.81

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi