Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 27 - No. 18)
Which of the following statements best describes the double entry rule regarding the sales journal?
Each sales transaction requires a debit to the sales account and a credit to cash.
Each sales transaction requires a debit to the sales account and a credit to inventory.
Each sales transaction requires a debit to the customer’s trade receivable account and a credit to the sales account.
Each sales transaction requires a debit to the inventory account and a credit to the sales account.
Explanation
In a credit sale, the customer's trade receivable account is debited, and the sales account is credited.
Comments (0)
