Oswego Clay Pipe Company provides services of $50,000 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on April 12?   A. Accounts Receivable 49,500     Sales Revenue   49,500 B. Accounts Receivable 50,000     Sales Revenue   49,500   Sales Discounts   500 C. Accounts Receivable 50,000     Sales Revenue   50,000 D. Accounts Receivable 50,000     Sales Discounts 500     Sales Revenue   50,500

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 5EA: Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200....
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Oswego Clay Pipe Company provides services of $50,000 to Southeast Water District #45 on April 12 of the current year with terms 1/15, n/60. What would Oswego record on April 12?

 

A. Accounts Receivable 49,500  
  Sales Revenue   49,500
B. Accounts Receivable 50,000  
  Sales Revenue   49,500
  Sales Discounts   500
C. Accounts Receivable 50,000  
  Sales Revenue   50,000
D. Accounts Receivable 50,000  
  Sales Discounts 500  
  Sales Revenue   50,500
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