Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 30 - No. 5)
What is the effect of the sale on account on the seller's records?
Accounts Receivable is debited, Sales Revenue is credited.
Cash is debited, Sales Revenue is credited.
Accounts Receivable is credited, Sales Revenue is debited.
Cash is credited, Sales Revenue is debited.
Explanation
Accounts Receivable is debited because the company is owed money and sales revenue is credited for recognizing the revenue.
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