Accountancy, asked by sohamdeshpande54, 10 months ago

How do the entries relating to insolvency apear in the books of the drawer? ​

Answers

Answered by Anonymous
15

How do the entries relating to insolvency appear in the books of the drawer?

To record a journal entry for a sale on account one must debit a receivable & credit a revenue account.

  • When the customer pays off their accounts, one debits cash & credits the receivable in the journal entry.
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