Question

transaction of sales due to last year period in journal entry​

Answer 1

Answer:

To create the sales journal entry, debit your Accounts Receivable account for $240 and credit your Revenue account for $240. After the customer pays, you can reverse the original entry by crediting your Accounts Receivable account and debiting your Cash account for the amount of the

Answer 2

Ten out of 10 businesses sell products or services. And when you make a sale, you need to record the transaction in your accounting books. How comfortable are you with making a sales journal entry?

How you record the transaction depends on whether your customer pays with cash or uses credit. Read on to learn how to make a cash sales journal entry and credit sales journal entry.

What is a sales journal entry?

A sales journal entry records a cash or credit sale to a customer. It does more than record the total money a business receives from the transaction. Sales journal entries should also reflect changes to accounts such as Cost of Goods Sold, Inventory, and Sales Tax Payable accounts.

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