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On November 10 of the current year, Cherokee Industries sold materials to a customer for $8,000 with credit terms 2/10, n/30. Cherokee uses the net
On November 10 of the current year, Cherokee Industries sold materials to a customer for $8,000 with credit terms 2/10, n/30. Cherokee uses the net method of accounting for sales discounts. What entry would Cherokee make on November 10? a. Accounts receivable7,840 Sales b. Accounts receivable8,000 Sales c. Accounts receivable 7,840 Sales discounts 160 Sales d. Accounts receivable8,000 Sales discounts Sales Choice a Choice d Choice c O Choice b 7,840 8,000 8.000 160 7,840
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