Advanced Computer Parts uses the perpetual inventory system. On May 5, Advanced sold merchandise with a cost of

$5,000

for

$8,500

to a customer on account with terms of

2/10,

n/30. Which of the following journal entries correctly records the payment received from the customer on May 11?

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Part 1

A.

Cash	8,330
Accounts Receivable		8,330

B.

Cash	8,500
Accounts Receivable		8,330
Sales Discounts Forfeited		170

C.

Cash	8,330
Sales Discounts Forfeited	170
Accounts Receivable		8,500

D.

Cash	3,500
Accounts Receivable		3500