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where a person or organisation buys on account, meaning they get the goods or product and will pay for them at a later date.

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13y ago

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What is different between account sale and sale account?

when revenue is earned from charge-account sales, the accountant debits __________ and credits___________


Is account sales a nominal account?

no sales is not a nominal account. because nominal account says" debit all expenses and credit all income and gain account. " all things which are tangible is call real account. u can touch the goods which are going to sale. Sale is nominal account as sale generally have some element of profit. This is the good reason to treat the sale as nominal account.


When a sale is made on account which account is credited?

Cost of sales


A sale for which cash will be received at a later date is called a sale on account?

Yes or a Credit Sale


Is it true that owners equity is decreased by a sale on account?

Not true, unless the sale on account is (1) the only sale during the financial period and (2) occurs at a loss.


When will fifa 11 be on sale for wii?

You will have to go online and either create an online account or go in the guest account


What is a sale to an account receivable customer is made?

After a sale to an A/R Customer is made


What balance sheet accounts are affected by the sale of an asset?

Sale of assets reduces the asset account as well as accumulated depreciation account while increases the cash or bank account


When a business makes a sale on account which account is debited in the accounting entry?

Cash book


Where would a sale on account be journalized?

Sales journal


Is Loss on sale of asset is an expense account?

yes


What is the difference between sales account and account sale?

when revenue is earned from charge-account sales, the accountant debits __________ and credits___________