On November 10 of the Current Year, Cherokee Industries Sold

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 December 10, assuming the correct payment was received on that date?

A) $\begin{array}{|l|r|r|}\hline \text { Cash } & 8,000 & \\\hline \text { Accounts receivable } & & 7,840 \\\hline \text { Discounts revenue } & & 160 \\\hline\end{array}$
B) $\begin{array}{|l|r|r|}\hline \text { Cash } & 8,000 & \\\hline \text { Accounts receivable } & & 7,840 \\\hline \text { Sales discounts forfeited } & & 160 \\\hline\end{array}$
C) $\begin{array}{|l|r|r|}\hline \text { Cash } & 8,160 & \\\hline \text { Accounts receivable } & & 8,000 \\\hline \text { Sales discounts forfeited } & & 160 \\\hline\end{array}$
D) $\begin{array}{|l|r|r|}\hline \text { Cash } & 8,000 & \\\hline \text { Accounts receivable } & & 8,000 \\\hline\end{array}$