On October 12, Equipment Inc. sells $53,000 worth of equipment on account to a credit customer with credit terms of 1/10, n/30. Assume the sale is not subject to tax. Select the correct entry to record the sale on Oct 12.
A.
| Cash | 53,000 | |||
| Sales | 53,000 | |||
B.
| Accounts Receivable | 53,000 | |||
| Sales Discounts | 530 | |||
| Sales | 52,470 | |||
C.
| Accounts Receivable | 53,000 | |||
| Sales | 53,000 | |||
D.
| Sales | 53,000 | |||
| Sales Discounts | 530 | |||
| Accounts Receivable | 52,470 | |||
Answer: C
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