Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 15 - No. 29)
What is the impact of a cash payment from a customer on the bank account balance, after a cash sale?
The bank account balance increases.
The bank account balance decreases.
The bank account balance remains the same.
It depends on the amount paid.
Explanation
Cash sales increase the cash (or bank) account.
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