Answer:
Nov 10,
DR Accounts Receivable .........................$8,000
CR Sales ......................................................................$8,000
(To record credit sale)
Explanation:
On the day that Flores Mills sold the carpet, they are to record this as a credit sales as cash was not paid. The correct entry would be to debit Accounts receivable and credit Sales.
The discount will only be applied if/when the customer settles the account.
