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9. On November 10 of the current year, Cherokee Industries sold materials to a customer for $8,000 with credit terms 2/10, n/30. Cherokee uses the
9. On November 10 of the current year, Cherokee Industries sold materials to a customer for $8,000 with credit terms 2/10, n/30. Cherokee uses the net method of accounting for cash discounts. What entry would Cherokee make on December 15, assuming the correct payment was received on that date? A.Cash 8,000 Accounts Receivable 7840 Discounts Revenue 160 B. Cash 8,000 Accounts Receivable 7,840 Interest Revenue 160 C. Cash 8160 Accounts Receivable 8,000 Interest Revenue 160 D. Cash 8,000 Accounts Receivable 8,000
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