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On November 10 of the current year, Flores Mills sold carpet to a customer for...

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Accounting

On November 10 of the current year, Flores Mills sold carpet to a customer for $7,700 with credit terms 2/10, n/30. Flores uses the gross method of accounting for cash discounts. What is the correct entry for Flores on November 17, assuming the correct payment was received on that date?

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O Cash Sales discounts Accounts receivable Sales 7,700 154 7,700 154 7,546 Cash Accounts receivable 7,546 Cash Sales discounts Accounts receivable 7,546 154 7,700 Cash Sales Accounts receivable 7,546 154 7,700

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