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 December 10, assuming the correct payment was received on that date?

Multiple Choice

• Cash	8,000
  Accounts receivable		7,840
  Sales discounts forfeited		160

• Cash	8,000
  Accounts receivable		8,000

• Cash	8,000
  Accounts receivable		7,840
  Discounts revenue		160

• Cash	8,160
  Accounts receivable		8,000
  Sales discounts forfeited		160