Question
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,500 with credit terms 1/10, n/30. Flores uses the gross
| On November 10 of the current year, Flores Mills sold carpet to a customer for $8,500 with credit terms 1/10, n/30. Flores uses the gross method of accounting for cash discounts. |
What is the correct entry for Flores on November 17, assuming the correct payment was received on that date? |
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Accounting What the Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
12th edition
007802529X, 1259969525, 978-1260565492
