Which of the following is the correct journal entry to record a sale to a customer on account? A) Debit Cash Credit Sales B) Debit Sales Credit Accounts Receivable C) Debit Accounts Receivable Credit Cash D) Debit Accounts Receivable Credit Sales

Which of the following is the correct journal entry to record a sale to a customer on account? A) Debit Cash Credit Sales B) Debit Sales Credit Accounts Receivable C) Debit Accounts Receivable Credit Cash D) Debit Accounts Receivable Credit Sales

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 13MC: Which of the following accounts are used when recording the sales entry of a sale on credit? A....

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Which of the following is the correct journal entry to record a sale to a customer on account?

A) Debit Cash

Credit Sales

B) Debit Sales

Credit Accounts Receivable

C) Debit Accounts Receivable

Credit Cash

D) Debit Accounts Receivable

Credit Sales

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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