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Business, 23.03.2020 20:33 hungtistic

On july 22, gary sold $25000 of inventory items on credit with the terms 3/15, net 30. payment on $16400 sales was received on august 1 and the remaining payment was received on august 12. assuming gary uses the gross method of accounting for sales discounts, which one of the following entries was made on august 1 to record the cash received?a. cash 14,700 sales discount 300 accounts receivable 15,000b. cash 15,000 accounts receivable 15,000c. cash 14,700 accounts receivable 14,700d. accounts receivable 300 sales discount forfeited 300

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On july 22, gary sold $25000 of inventory items on credit with the terms 3/15, net 30. payment on $1...

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