Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. oswego clay pipe company sold $46,000 of pipe to s

Oswego Clay Pipe Company sold $46,000 of pipe to Southeast Water District 45 on April...

50.1K

Verified Solution

Question

Accounting

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 sales discounts.

What entry would Oswego make on April 12?

Multiple Choice
  • Account Title Debit Credit
    Accounts receivable 46,000
    Sales 46,000
  • Account Title Debit Credit
    Accounts receivable 46,000
    Sales 45,540
    Sales discounts 460
  • Account Title Debit Credit
    Accounts receivable 45,540
    Sales 45,540
  • Account Title Debit Credit
    Accounts receivable 45,540
    Sales discounts 460
    Sales 46,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Use the sample information x¯ = 41, ? = 4, n = 20 to calculate the...

Statistics
1.2K views

Give an example of a study where it would be more appropriate to report the standard...

Physics
1.2K views

Is the acceleration of Mars' acceleration much greater than that of the Earth (encircling their orbit...

Geometry
1.2K views

3 1 can of paint covers 100 cm In the cylinder r 8 cm and...

Basic Math
1.2K views

A car of 100kg is driven down a slope located at 21 m distance at...

Calculus
1.2K views

A building has 100 apartments. When the rent is $1600 per month, all the apartments...

Calculus
1.2K views

The future value at 5 interest compounded continuously for 7 years of the continuous income...

Algebra
1.2K views

Find the equation of the tangent line to the curve y = 3 sec x...

Accounting
1.2K views

Hugh has the choice between investing in a City of Heflin bond at 4.95 percent...

Accounting
1.2K views

Hypothetical: Dr. Deacon owns two businesses: The Blackacre Free Clinic and the Blackacre Office Rental...

Accounting
1.2K views

xyz company putchase material from supplier from an amount of BD 2,700 . the material...

Accounting
1.2K views

QUESTION 16 10 points Voltman Manufacturing Corporation's most recent production budget indicates the following required...