The correct answer is B) $11,220
Supporting calculations:
Total amount debited to Cash = Actual amount receivable + Discount amount receivable
= ($11,000 + [$11,000*2/100])
= $11,000 + $220
= $11,220
Therefore, the correct answer is $11,220.
Leno Company sells goods to the Fallon Company for $11,000. It offers credit terms of 2/10....
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