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there are Five basic account heads in accounting, which are given below:
- Assets
- Liabilities
- Capital (Owners Equity)
- Expense
- Revenue
and sales belongs to Revenue.
If looking at the Accounting equation: Assets = Liabilities + Owners Equity.
Capital, Expense and Revenue are all sub categories of Owners Equity. If sales is revenue then it would fall under Owners Equity.
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∙ 10y ago
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