Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 5 - No. 41)
For the transaction of selling goods on credit, what is the impact of the accounting equation?
Impact 1: Sales increases; Impact 2: Trade receivable increases
Impact 1: Sales decreases; Impact 2: Trade receivable decreases
Impact 1: Sales decreases; Impact 2: Trade receivable increases
Impact 1: Sales increases; Impact 2: Trade receivable decreases
Explanation
Impact 1: Sales increases; Impact 2: Trade receivable increases.
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