Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 48 - No. 29)
What is the journal entry to record a sale on credit?
Debit Cash, Credit Sales Revenue
Debit Accounts Receivable, Credit Sales Revenue
Debit Sales Revenue, Credit Accounts Receivable
Debit Cash, Credit Accounts Receivable
Explanation
A sale on credit increases Accounts Receivable (debit) and Sales Revenue (credit).
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