Accounting for IGCSE & O level - Accounting Procedures (Section 16 - No. 46)
In a sales ledger, what is the impact of receiving a payment from a customer?
Debit the customer's account.
Credit the customer's account.
No impact on the customer's account.
Debit the bank account.
Explanation
Receiving a payment from a customer credits the customer's account, reducing the amount they owe.
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