Question
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,900 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 $8,900 with credit terms 1/10, n/30. Flores uses the gross method of accounting for sales discounts.
What is the correct entry for Flores on November 17, assuming the correct payment was received on that date?
Multiple Choice
- Cash8,811Sales discounts89Accounts receivable8,900
- Cash8,900Sales discounts89Accounts receivable8,900Sales89
- Cash8,811Accounts receivable8,811
- Cash8,811Sales89Accounts receivable8,900
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Accounting Chapters 14-26
Authors: Carl Warren
27th Edition
1337272116, 978-1337272117
