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On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross

On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on November 10?

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

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