Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 40)
How would the sale of goods on credit be recorded?
Debit Cash, Credit Sales
Debit Accounts Receivable, Credit Sales
Debit Sales, Credit Cash
Debit Sales, Credit Accounts Receivable
Explanation
Sales on credit increases the receivable, and the revenue from sales.
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