Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 45 - No. 36)
What is the journal entry when a business receives cash from a customer for services provided?
Debit Accounts Receivable, Credit Service Revenue
Debit Cash, Credit Service Revenue
Debit Service Revenue, Credit Cash
Debit Cash, Credit Accounts Receivable
Explanation
Receiving cash increases the cash account (debit) and also increases the revenue (credit).
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