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17 On November 10 of the current year, Carolina Mills sold materials to a customer for $8,000 with credit terms 2/10, n/30. Carolina Mills uses
17 On November 10 of the current year, Carolina Mills sold materials to a customer for $8,000 with credit terms 2/10, n/30. Carolina Mills uses the net method of accounting for sales discounts. What entry would Carolina Mills make on December 10, assuming the correct payment was received on that date?
Multiple Choice
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Cash 8,000 Accounts receivable 7,840 Discounts revenue 160 -
Cash 8,000 Accounts receivable 7,840 Sales discounts forfeited 160 -
Cash 8,160 Accounts receivable 8,000 Sales discounts forfeited 160 -
Cash 8,000 Accounts receivable 8,000
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