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Question - Oswego Clay Pipe Company sold $46,500 of pipe to Southeast Water District #45 on April 12 of the current year with terms 2/15, n/60. Oswego uses the gross method of accounting for cash discounts.
What entry would Oswego make on April 12?
Accounts receivable45,570 Sales discounts930 Sales 46,500
Accounts receivable46,500 Sales 46,500
Accounts receivable46,500 Sales 45,570Sales discounts 930
Accounts receivable45,570 Sales 45,570
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