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when a sale is made on an accounts receivable account what needs to be debited and credited?
When a sale is made on an accounts receivable account, the Accounts Receivable account is debited to reflect the increase in money owed by customers. Simultaneously, the Sales Revenue account is credited to recognize the income generated from the sale. This entry ensures that both the asset and revenue accounts are accurately updated in the accounting records.
What is the double entry for sale?
Cash/Bank/Accounts Receivable [Debit] Sales[Credit]
What is commonly used to determine if you should give customers an accounts receivable account?
after a sale to an Account Receivable is miscreants is sent to the customer?
What is commonly used to determine if you should give customers accounts receivable account?
after a sale to an Account Receivable is miscreants is sent to the customer?
When a sale is made to a customer on credit it creates an Accounts Receivable which is classified by your company as?
an asset
When a sale is made to a customer on credit it creates an Accounts Receivable which is classified as?
Sundry Debtors
Journal entry of sale return?
[Debit] Sales Return [Credit] Accounts receivable / Cash
What is the journal entry for the sale of any service?
debit accounts receivable / cashcredit services revenue
What is credit sale entry?
[Debit] Accounts Receivable xxxx [Credit] Sales account xxxx
What is the journal entry to record sale of merchandise?
Debit accounts receivable / cash / bankCredit sales revenue
What is the Journal entry for sale on credit?
Debit accounts receivable xxxx credit sales revenue xxxx
What does a Schedule of Accounts Receivable show?
the schedule of accounts receivable shows
