Accounting for IGCSE & O level - Accounting Procedures (Section 15 - No. 37)
How does the sale of goods on credit impact the accounting equation?
Increases assets and increases owner's equity.
Decreases assets and increases owner's equity.
Increases liabilities and decreases owner's equity.
Decreases assets and decreases owner's equity.
Explanation
Accounts receivable (asset) increases and sales revenue (equity) increases.
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