Hello, I currently need help with this accounting problem. The problem is displayed below, and...
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Accounting
Hello, I currently need help with this accounting problem. The problem is displayed below, and thank you for the help + time.
On November 10 of the current yeor, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/to, n/30. Flores uses the gross method of accounting for sales discounte: What is the cortect entry for Flores on November 17 assuming the correct payment was recelved on that date? \begin{tabular}{|c|c|c|} \hline Cash & 7,840 & \\ \hline Accounts receivable & & 7,840 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline Cash & 7,840 & \\ \hline Sales discounts & 160 & \\ \hline Accounts receivable & & 8,000 \\ \hline \end{tabular} \begin{tabular}{|l|r|l|} \hline Cash & 7,840 & \\ \hline Sales & 160 & \\ \hline Accounts receivable & & 8,000 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline Cash & 8,000 & \\ \hline Sales discounts & 160 & \\ \hline Accounts receivable & & 8,000 \\ \hline Sales & & 160 \\ \hline \end{tabular}


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