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Sally Beauty Warehouse uses the perpetual inventory system to account for its merchandise. On Nov 2, it sold $700 of merchandise on credit with terms of 2/15,n/30. Demonstrate the required journal entry to record the receipt of payment from the customer on Nov 13, by selecting all of the correct actions below.

a. Credit Accounts Receivable $700.

b. Debit Sales Discounts $14.

c. Credit Sales Discounts $14.

d. Debit Cash $686.

e. Debit Accounts Receivable $700.

f. Debit Cash $700.

Q&A Education