Accounting for IGCSE & O level - Accounting Procedures (Section 17 - No. 25)
In the sales ledger, which accounting entry is made when a customer pays their account balance?
Debit the customer’s account and credit cash.
Credit the customer’s account and debit cash.
Debit the customer’s account and credit sales.
Credit the sales account and debit cash.
Explanation
Receiving payment credits the customer's account, and debits cash.
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