Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 47 - No. 40)
When a company sells goods for cash, which accounts are affected?
Debit Sales Revenue, Credit Cash.
Debit Cash, Credit Sales Revenue.
Debit Accounts Receivable, Credit Sales Revenue.
Debit Cash, Credit Accounts Receivable.
Explanation
Cash increases (debit), and Sales Revenue increases (credit).
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