On May 16, Bennion Company, Sold $50,000 of Inventory to Bonaccorsi

Multiple Choice

On May 16, Bennion Company, sold $50,000 of inventory to Bonaccorsi, Inc. for $10,000 cash and $60,000 on credit. On June 10, Bonaccorsi, Inc. paid Bennion Company cash for the $60,000 credit sale. The correct entry by Bennion Company to record the payment on June 10 is

A)
Cash $\quad 60,000$
Accounts Receivable $\quad 60,000$
B)
Cash $\quad 60,000$
Sales Revenue $\quad 60,000$
C)
Cost of Goods Sold $\quad 60,000$
Sales Revenue $\quad 60,000$
D)
$\begin{array} { c r } \text { Accounts Receivable } & 60,000 \\\text { Cash } & 60,000\end{array}$