Accounting for IGCSE & O level - Accounting Procedures (Section 12 - No. 17)
In a sales ledger, what is the impact of receiving cash from a customer?
Debit the customer's account.
Credit the customer's account.
No impact on the customer's account.
Debit the purchases ledger control account
Explanation
Receiving cash payment from a customer credits the customer account, decreasing their debt.
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