On November 10 of the Current Year, Flores Mills Provides $\begin{array}{c}\text { Cash } &7,840\\\qquad \text { Accounts Receivable }&&7,840\end{array}$

question 58

Multiple Choice

On November 10 of the current year, Flores Mills provides services to a customer for $8,000 with credit terms 2/10, n/30. The customer made the correct payment on November 17. How would Flores record the collection of cash on November 17?

• A) \(\begin{array}{c}
• \text { Cash } &7,840\\
• \qquad \text { Accounts Receivable }&&7,840
• \end{array}\)
• B) \[\begin{array} { l r r }
• \text { Cash } & 7,840 & \\
• \text { Sales Discounts } & 160 & \\
• \quad \text { Accounts Receivable } & & 8,000
• \end{array}\]
• C) \[\begin{array} { l r r }
• \text { Cash } & 7,840 & \\
• \text { Sales Revenue } & 160 & \\
• \quad \text { Accounts Receivable } & & 8,000
• \end{array}\]
• D) \(\begin{array}{l}
• \text { Cash } &8,000\\
• \text { Accounts Receivable }&&8,000
• \end{array}\)

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