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