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Oswego Clay Pipe Company sold $45,200 of pipe to Southeast Water District #45 on April 12 of the current year with terms 3/15, n/60. Oswego
Oswego Clay Pipe Company sold $45,200 of pipe to Southeast Water District #45 on April 12 of the current year with terms 3/15, n/60. Oswego uses the gross method of accounting for sales discounts. What entry would Oswego make on April 23, assuming the customer made the correct payment on that date?
Multiple Choice Cash Accounts receivable Sales 45,200 43,844 1,356 Cash Sales Accounts receivable 43,844 1,356 45,200 Cash Sales discounts Accounts receivable Sales discounts forfeited 45,200 1,356 45,200 1,356 Cash Sales discounts Accounts receivable 43,844 1,356 45,200
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