Accountancy, asked by Aayush456jha, 3 months ago

Cash sales for the month 800
Journal Entries

Answers

Answered by harelyquinn

2

In the case of a cash sale, the entry is:

[debit] Cash. Cash is increased, since the customer pays in cash at the point of sale.

[debit] Cost of goods sold. ...

[credit] Revenue. ...

[credit]. ...

[credit] Sales tax liability.

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