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5 December, 17:41

On May 1 of the current year Yam jam sold produce to a customer for 3000

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  1. 5 December, 19:59
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    Answer and Explanation:

    The Journal entry with their narrations is shown below:-

    Accounts receivable Dr, $3,000

    To Sales revenue $3,000

    (Being sales revenue is recorded)

    For recording the sales revenue we debited the accounts receivable as it increase the assets whereas on the other side we credited the sales revenue because it increases the revenue.
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