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Harvey's Wholesale Company sold supplies of $46,000 to Northeast Company on April 12 of the current year, with terms 1/15, n/60. Harvey uses the net
Harvey's Wholesale Company sold supplies of $46,000 to Northeast Company on April 12 of the current year, with terms 1/15, n/60. Harvey uses the net method of accounting for sales discounts. What entry would Harvey's make on April 23, assuming the customer made the correct payment on that date? a. Cash Sales Accounts receivable b. Cash 45,540 460 46,000 46,000 Sales discounts 460 Accounts receivable 46,000 Sales discounts forfeited 460 c. Cash 45,540 Sales discounts 460 Accounts receivable d. Cash Accounts receivable 46,000 45,540 45,540
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