1. What is the effect on the Cash account when a company sells merchandise, but allows the customer to pay later?

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21-04-2022
Business

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1. What is the effect on the Cash account when a company sells merchandise, but allows the customer to pay later?

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Manuelvsthewrld Manuelvsthewrld · Answer 1 · 2022-04-21T16:54:29+02:00

Manuelvsthewrld Manuelvsthewrld

21-04-2022

On the day the cash is received, the Cash account increases, and because of the double entry system, the asset account Accounts Receivable is decreased.

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1. What is the effect on the Cash account when a company sells merchandise, but allows the customer to pay later?​

Respuesta :

Otras preguntas

1. What is the effect on the Cash account when a company sells merchandise, but allows the customer to pay later?