Oswego Clay Pipe Company sold $47,000 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 April 12?

Multiple Choice

• Accounts receivable	47,000
  Sales		46,530
  Sales discounts		470

• Accounts receivable	46,530
  Sales discounts	470
  Sales		47,000

• Accounts receivable	46,530
  Sales		46,530

• Accounts receivable	47,000
  Sales		47,000