Answered: When a company makes a sale and accepts…

When a company makes a sale and accepts a credit card payment from a customer, the company: Multiple Choice debits Cash. credits Accounts Receivable. credits Cash. debits Accounts Receivable.

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...

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Question

When a company makes a sale and accepts a credit card payment from a customer, the company:
Multiple Choice
debits Cash.
credits Accounts Receivable.
credits Cash.
debits Accounts Receivable.
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