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Oswego Clay Pipe Company sold $46,000 of pipe to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. Oswego
Oswego Clay Pipe Company sold $46,000 of pipe to Southeast Water District #45 on April 12 of the current year with terms 1/15, 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 0 Cash Accounts receivable Discounts receivable 46,000 45, 540 460 Cash Accounts receivable Sales discounts forfeited 46,000 145, 540 460 0 Cash Accounts receivable 146.000 26,000 46,000 46,000 Cash 0 46, 460 46,000 Accounts receivable Sales discounts forfeited 460
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