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 cash discounts. What entry would Oswego make on April 12? (Points : 6)
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Cash
|
45,540
|
|
|
Sales
|
460
|
|
|
Accounts receivable
|
|
46,000
|
|
Cash
|
46,000
|
|
|
Sales discounts
|
460
|
|
|
Accounts receivable
|
|
46,000
|
|
Interest revenue
|
|
460
|
|
Cash
|
45,540
|
|
|
Sales discounts
|
460
|
|
|
Accounts receivable
|
|
46,000
|
|
Cash
|
46,000
|
|
|
Accounts receivable
|
|
45,540
|
|
Sales
|
|
460
|