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Jackson's Antiques uses the perpetual inventory system. On June 1 5 , Jackson's sold merchandise with a cost of $ 1 5 , 0 0

Jackson's Antiques uses the perpetual inventory system. On June 15, Jackson's sold merchandise with a cost of $15,000 for $18,500 to a customer on account with terms of 310, n/30. Which of the following joumal entries correctly records the payment received from the customer on June 21 using the gross method?
A. Cash
17,945
B. Cash
Accounts Receivable
17,945
C. Cash
Accounts Receivable
18,500
Sales Discounts
D. Cash
Accounts Receivable
18,500
555
17,945
Sales Discounts
17,945
Accounts Receivable
555
18,500
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