Oswego Clay Pipe Company sold $46,100 of pipe to Southeast Water District #45 on April...
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Accounting
Oswego Clay Pipe Company sold $46,100 of pipe to Southeast Water District #45 on April 12 of the current year with terms 4/15, n/60. Oswego uses the gross method of accounting for sales discounts. What entry would Oswego make on June 10, assuming the customer made the correct payment on that date? Cash Accounts receivable Sales discounts forfeited 46,100 44, 256 1,844 Cash Accounts receivable 46,100 46,100 Cash Accounts receivable Discounts receivable 46,100 44, 256 1,844 Cash Accounts receivable Sales discounts forfeited 47,944 46,100 1,844
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