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Oswego Clay Pipe Company sold $45,800 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 $45,800 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 cash discounts. What entry would Oswego make on June 10, assuming the customer made the correct payment on that date? Cash 45,800 Accounts receivable 44,426 Discounts receivable 1,374 Cash 47,174 Accounts receivable 45,800 Interest revenue 1,374 Cash 45,800 Accounts receivable 44,426 Interest revenue 1,374 Cash 45,800 Accounts receivable 45,800
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