On May 1, 2020, ABC Corporation sells $250,000 of merchandise on account. The payment terms are 3/10, n/30. If the customer pays on May 11, ABC's journal entry on that date will:

	a.	Debit cash for $242,500 and credit Sales revenue for $242,500.
	b.	Debit sales discounts for $7,500 and credit accounts receivable for $250,000.
	c.	Debit cash for $242,500 and credit Sales discounts for $7,500.
	d.	Debit loss on accounts receivable for $7,500 and credit accounts receivable for $250,000.