Answer:
B-debit to Sales Discounts for $100
Explanation:
The journal entry is shown below to record the sale:
a. Accounts receivable A/c Dr $5,000
To Sales revenue $5,000
(Being merchandise is sold on a credit basis)
If the payment is made within 10 days, the journal entry would be
Cash A/c Dr $4,900
Sales discount A/c $100 ($5,000 x 2%)
To Accounts receivable A/c $5,000
(Being cash is received)
The government body responsible for the regulation of the Indian banking system is the Reserve Bank of India.
<h3>What is Government?</h3>
A government refers to an administrative system developed to maintain the functioning of any country by maintaining peace and order by implementing laws and legislation of the constitution and providing better facilities to its citizens.
The reserve bank of India is the governing body that is responsible for the regulation of the Indian banking system which provides guidelines regarding interest rates and issuing of funds and bonds to businesses and individuals.
This maintains the currency system and helps in economic decisions by managing the credit system of the country.
Learn more about the Reserve Bank of India, here:
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You have to do some adding and multiplying. first 99.55 times 4 tires