Oswego Clay Pipe Company provides services of $50,000 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on April 12?   A. Accounts Receivable 49,500     Sales Revenue   49,500 B. Accounts Receivable 50,000     Sales Revenue   49,500   Sales Discounts   500 C. Accounts Receivable 50,000     Sales Revenue   50,000 D. Accounts Receivable 50,000     Sales Discounts 500     Sales Revenue   50,500

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.