Accountıng I Deneme Sınavı Sorusu #1275615
If a company sells its goods and services on credit, how should this company record this transaction?
Accounts receivables is debited. |
Accounts receivables is credited. |
Cash account is debited. |
Cash account is credited. |
Sales revenue account is debited. |
Yanıt Açıklaması:
When the company sells its goods or services on cash basis, there would be no need to consider for accounts receivables. In such a case, cash account is debited; the sales revenue account is credited. As we have mentioned before, if the company sells its goods and services on credit, then it has to debit accounts receivables. The correct answer is A.
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