Accounting for IGCSE & O level - Accounting Procedures (Section 12 - No. 15)
If a company receives cash from a customer, what impact does this have on the Sales Ledger Control Account?
The account is debited.
The account is credited.
There is no effect on the account.
The account is closed.
Explanation
Receiving cash reduces the amount the customer owes, which is recorded as a credit.
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