Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.
Sale of goods and services is a revenue and not accounts receivable.
Revenue account
debit account receivable credit service revenue
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
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.
Any sales on account (aka credit sales) will increase accounts receivable by the same amount. The journal entry for this would be: Account Receivable (debit) Sales (revenue) (credit)
Revenue account
Yes, it is, but accounts receivable is not.
the debit will be to the accounts receivable because a debit increases it. the offset account in this entry is usually a revenue account. so therefore a credit to revenue.
Sales revenue is a typical one. Dr. A/R Cr. Sales Revenue
Services are sold on account by which, when you receive revenue or income, it will be receivable if the revenue or income are not earned when the services is/or/are already performed
[Debit] accounts receivable [Credit] Sales revenue
debit account receivable credit service revenue
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
the formula of calculating account receivable turnover = Net Sales/ average gross receivable
Any sales on account (aka credit sales) will increase accounts receivable by the same amount. The journal entry for this would be: Account Receivable (debit) Sales (revenue) (credit)
If you render a service n account to a customer you debit Account Receivable and credit Service Revenue.
Accounts Receivable - Debit Service Revenue - Credit