When a customer of Vegas Sign Company chooses to pay immediately on delivery rather than wait to be billed in 30 days, the buyer receives a 5 percent discount. What is this 5 percent discount an example of?

An abatement occurs when a testator makes a bequest of money and the estate does not have enough money to pay the bequest.

a. true b. false

Jupiter Service Company decides to increase the amount of the petty cash fund from $500 to $600. A journal entry must be made to debit the Cash account and credit the Petty Cash account for $100

Indicate whether the statement is true or false