Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 45 - No. 9)
When recording the sale of a product on credit, which of the following accounts are affected?
Sales Revenue
Cash
Accounts Receivable
Cost of Goods Sold
Explanation
When goods are sold on credit, revenue is recorded, and Accounts Receivable is increased. Cash is not involved in a credit sale.
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