In credit terms of 3/15, n/45, the "3" represents the
a. Number of days in the discount period
b. Full amount of the invoice
c. Number of days when the entire amount is due
d. Percent of the cash discount.
A debit to sales returns and allowances and a credit to accounts receivable:
a. Reflects an increase in the amount due from a customer.
b. Recognizes that a customer returned merchandise and/or received an allowance.
c. Requires a debit memorandum to recognize the customer's return.
d. Reflects an increase in net sales.
