Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 11 - No. 30)
For payments received for sales on credit, which of the following is correct?
Debit the cash account with cash received or debit the bank account when the payment is received by cheque or bank transfer.
Debit accounts that match the customer from the customer.
Debit the cash received or credit the bank account.
None of the above.
Explanation
Debit the cash account with cash received or debit the bank account when the payment is received by cheque or bank transfer.
Comments (0)
