70.2K

Verified Solution

Link Copied!

Oswego Clay Pipe Company sold $45,500 of pipe to Southeast Water District 45 on April 12 of the current year with terms 3/15. " Oswego uses the gross method of accounting for sales discounts What entry would Oswego make on April 12? Multiple Choice \begin{tabular}{|c|r|r|} \hline Account Title & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{|c|}{ Credit } \\ \hline Accounts recoivable & 45,500 & \\ \hline Sales & & 44,135 \\ \hline Sales discounts & & 1,365 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts receivabie & 44,135 & \\ \hline Sales & & 44,135 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts receivable & 45,500 & \\ \hline Sales & & 45,500 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ Account Title } & \multicolumn{1}{|c|}{ Debit } & Credit \\ \hline Accounta receivable & 44,135 & \\ \hline Sales discounta & 1,365 & \\ \hline Sales & & 45,500 \\ \hline \end{tabular} Oswego Clay Pipe Company sold $45,500 of pipe to Southeast Water District 45 on April 12 of the current year with terms 3/15. " Oswego uses the gross method of accounting for sales discounts What entry would Oswego make on April 12? Multiple Choice \begin{tabular}{|c|r|r|} \hline Account Title & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{|c|}{ Credit } \\ \hline Accounts recoivable & 45,500 & \\ \hline Sales & & 44,135 \\ \hline Sales discounts & & 1,365 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts receivabie & 44,135 & \\ \hline Sales & & 44,135 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Account Title & Debit & Credit \\ \hline Accounts receivable & 45,500 & \\ \hline Sales & & 45,500 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline \multicolumn{1}{|c|}{ Account Title } & \multicolumn{1}{|c|}{ Debit } & Credit \\ \hline Accounta receivable & 44,135 & \\ \hline Sales discounta & 1,365 & \\ \hline Sales & & 45,500 \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert

See Answer