Ask Question
BusinessBusiness
6 May, 22:48

Credit sales are recorded by crediting an accounts receivable.

+5
Answers (1)
  1. 7 May, 00:42
    0
    The answer to the sentence above is false based on the transaction above. Account Receiveable is an asset account which has "debit" as its natural balance. Recording credit sales will increase the account receivable balance and sales balance, thus an increase in account receivable balance occurs on the debit side.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Credit sales are recorded by crediting an accounts receivable. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is true of budgetary slack? Question 14 options: Budgetary slack occurs when a manager deliberately underestimates revenues or overestimates costs in order to make budgeted expectations more easily achievable in the future.
Answers (1)
If your uncle borrows $56,000 from the bank at 10 percent interest over the eight-year life of the loan. Use Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. a.
Answers (1)
Marietta is the product manager of Fireflies LTD, a company that designs and manufactures clothes and fashion accessories.
Answers (1)
If a stricter quota, such as 30,000 tons of apricots, was imposed on this market, we would expect:
Answers (1)
On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par common stock (with a stated value of $0.25) at $1.20, and on August 3, it issued for cash 10,000 shares of preferred stock, $15 par at $21.
Answers (1)
New Questions in Business
If the consumption function is C = 100 + 0.75Y and planned investment spending is 500 , what will be the equilibrium level of output? Ye = $ nothing. (Enter your response as an integer.)
Answers (1)
An online medicaladvice company just completed an IPO with an investment bank on a firm-commitment basis. The firm issued 5 million shares of common stock, and the underwriting fees were $2.10 per share. The offering price was $27.90 per share.
Answers (1)
Which of the following is an example of how the principle of beneficence can be applied to a study employing human subjects? Ensuring that the selection of subjects includes people from all segments of the population.
Answers (1)
Match the following definitions with the correct term 1. Delocalization of food production and consumption connections 2. The process of learning culturally specific preferences passed from generation to generation 3.
Answers (1)
Adobe Systems Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013.
Answers (1)
Home » Business » Credit sales are recorded by crediting an accounts receivable.
Sign Up Forgot Password?