On June 23, 2015, Spencer Ltd. received cash payment of $17,000 from a customer for products that had been delivered to the customer in May 2015. It is common practice in Spencer Ltd.s industry to allow customers to pay a month after delivery, so the delay in payment was not a reflection of the customers ability or willingness to pay for the products received. Choose the correct entry (if any) to be made on June 23, 2015.

a.

Debit: Cash (+A) $17,000

Credit: Accounts Receivable (-A) $17,000

b.

Debit: Cash (+A) $17,000

Credit: Sales Revenue (+R, +SE) $17,000

c.

Debit: Accounts Receivable (+A) $17,000

Credit: Cash (-A) $17,000

d.

No entry is required at this time.

*** There is only 1 correct answer. Please explain why all choices are correct/incorrect