On November 10 of the current year, Cherokee Industries sold materials to a customer for $8,000 with credit terms 2/10, n/30. Cherokee uses the net method of accounting for cash discounts. What entry would Cherokee make on November 10? a. Accounts receivable 8,000 Sales 8,000 b. Accounts receivable 7,840 Sales 7,840 c. Accounts receivable 7,840 Cash discounts 160 Sales 8,000 d. Accounts receivable 8,000 Cash discounts 160 Sales 7,840
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