Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 45 - No. 43)
When recording the sale of a non-current asset (e.g., furniture), what type of account is credited in the general journal?
Cash
The asset account (e.g., Furniture)
Sales Revenue
Irrecoverable Debts
Explanation
The asset account is credited to reduce the asset account and show that the business no longer has the asset.
Comments (0)
