Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 24 - No. 28)
What journal entry is made when a company receives cash for a sale previously recorded on credit?
Debit Cash, Credit Accounts Receivable.
Debit Accounts Receivable, Credit Cash.
Debit Sales, Credit Cash.
Debit Cash, Credit Sales.
Explanation
When cash is received, cash is debited, and Accounts Receivable is credited.
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