Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 31 - No. 19)
When recording the sale of goods on credit, what is the correct order of operations?
Debit Inventory, Credit Accounts Receivable
Debit Cash, Credit Sales Revenue
Debit Accounts Receivable, Credit Sales Revenue
Debit Sales Revenue, Credit Accounts Receivable
Explanation
The correct order of journal entries for a credit sale is: debit Accounts Receivable, credit Sales Revenue.
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