Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 22 - No. 3)
If a company sells goods on credit, the accounts affected are:
Cash and Sales Revenue
Accounts Receivable and Sales Revenue
Cash and Accounts Payable
Accounts Payable and Sales Revenue
Explanation
When selling on credit, Accounts Receivable is increased (debit) and Sales Revenue is increased (credit).
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