Ask Question
BusinessBusiness
5 December, 17:41

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

+5
Answers (1)
  1. 5 December, 19:59
    0
    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.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On May 1 of the current year Yam jam sold produce to a customer for 3000 ...” 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
List at least five types of Fixed Expenses and why they are fixed using complete sentences.
Answers (1)
Which of the following generally occurs during the storming stage of team development? A. Members develop their first real sense of cohesion and, through disclosure and feedback, make an effort to understand and accept each other. B.
Answers (1)
Economic interdependence definition
Answers (1)
The GASB defines a financial reporting entity as the primary government and the entities for which the primary government is financially accountable.
Answers (1)
What is the first step in the process of preparing for college?
Answers (1)
New Questions in Business
Marks Corporation's balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 47 $ 37 Accounts receivable 53 57 Inventory 63 60 Property, plant, and equipment 548 440 Less accumulated
Answers (1)
What happens to prices and wages during an expansion?
Answers (1)
Suppose that the equilibrium price of greeting cards declined at the same time the equilibrium quantity of greeting cards increased. Which one of the following would most likely be responsible? a.
Answers (1)
You plan to borrow $ 2 comma 000 from a bank. In exchange for $ 2 comma 000 today, you promise to pay $ 2 comma 100 in one year. What does the cash flow timeline look like from your perspective? What does it look like from the bank's perspective?
Answers (1)
Which of the following is indicative of a short-term restrictive financial policy? a) purchasing inventory only as needed b) granting credit to more customers c) increased investment in marketable securities d) maintaining a large accounts
Answers (2)
Home » Business » On May 1 of the current year Yam jam sold produce to a customer for 3000
Sign Up Forgot Password?