Extracted text: Tviuiipie CTUILE Cash 1,650 Accounts receivable 1,650 Cash 2,400 Accounts receivable 2,400 Cash 2,320 Sales discounts 17 Accounts receivable 2,337 Cash 1,570 Accounts receivable 1,570 Cash 2,376 24 Sales discounts Accounts receivable 2,400
Extracted text: On February 3, Smart Company sold merchandise in the amount of $2,400 to Truman Company, with credit terms of 1/10, n/30. The cost of the items sold is $1,65O. Smart uses the perpetualinventory system and the gross method. Truman pays the invoice on February 8, and takes the appropriate discount. The journal entry that Smart makes on February 8 is: Multiple Choice Cash 1,650 Accounts receivable 1,650 Cash 2,400 Accounts receivable 2,400 Cash 2,320 Sales discounts < prev="" 2="" of="" 10="" next=""> pe here to search 5:00 PM 6% 3/7/2022