On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts.
What is the correct entry for Flores on November 10?
Multiple Choice
Accounts receivable 8,000 Sales discounts 160
Sales 7,840
Accounts receivable 8,000 Sales 8,000
Accounts receivable 7,840 Sales 7,840
Accounts receivable 7,840 Sales discounts 160 Sales 8,000
