What is the GL entry when a company receives a payment from a customer? Debit revenue, credit customer Debit customer, credit revenue Debit bank, credit customer, credit accounts reconciliation account Debit accounts reconciliation account, credit bank Debit accounts reconciliation account, debit customer, credit bank
What is the GL entry when a company receives a payment from a customer? Debit revenue, credit customer Debit customer, credit revenue Debit bank, credit customer, credit accounts reconciliation account Debit accounts reconciliation account, credit bank Debit accounts reconciliation account, debit customer, credit bank
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 1EA: Identify whether each of the following transactions, which are related to revenue recognition, are...
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What is the GL entry when a company receives a payment from a customer?
Debit revenue, credit customer
Debit customer, credit revenue
Debit bank, credit customer, credit accounts reconciliation account
Debit accounts reconciliation account, credit bank
Debit accounts reconciliation account, debit customer, credit bank
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