On November 10 of the current year, Flores Mills sold carpet to a customer for $8,900 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on November 17, assuming the correct payment was received on that date? O Cash 8,722 Sales discounts 178 Accounts receivable 8,900 O Cash 8,722 Sales 178 Accounts receivable 8,900 O Cash 8,722 Accounts receivable 8,722 O Cash 8,900 Sales discounts 178

On November 10 of the current year, Flores Mills sold carpet to a customer for $8,900 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on November 17, assuming the correct payment was received on that date? O Cash 8,722 Sales discounts 178 Accounts receivable 8,900 O Cash 8,722 Sales 178 Accounts receivable 8,900 O Cash 8,722 Accounts receivable 8,722 O Cash 8,900 Sales discounts 178

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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