Journal entry to record the collection on account
Question # 00766862
Posted By:
Updated on: 06/24/2020 10:19 AM Due on: 06/29/2020
Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record the collection on account would be:
Debit Cash of $625 and credit Sales $625.
Debit Cash of $625 and credit Accounts Receivable $625.
Debit Sales $625 and credit Accounts Receivable $625.
Debit Accounts Receivable $625 and credit Cash $625.
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Rating:
/5
