Register

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

1. What is the effect on the Cash account when a company sells merchandise, but allows the customer to pay later?​
asked 94.3k views
24 votes
1. What is the effect on the Cash account when a company sells merchandise, but allows the customer to pay later?​

asked
User Uttam Palkar
by
9.3k points

1 Answer

9 votes
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.
answered
User Donielle
by
8.2k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
Link Copied!