Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 15 - No. 34)
If a company makes a sale on credit, what accounts are impacted?
Debit sales, credit bank.
Debit bank, credit sales.
Debit accounts receivable, credit sales.
Debit sales, credit accounts receivable.
Explanation
A credit sale increases accounts receivable (an asset) and the sales revenue.
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