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Oswego Clay Pipe Company sold $45,700 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 $45,700 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 June 10, assuming the customer made the correct payment on that date? Multiple Choice Cash Accounts receivable Sales discounts forfeited 45,7001 44,329 1,371 Cash Accounts receivable 45,700 45,700 Cash Accounts receivable Discounts receivable 45,700 44,329 1,371 O Cash Accounts receivable Sales discounts forfeited 47,071 45,700 1,371
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