Multiple Choice
Mullis Company sold merchandise on account to a customer for $625,terms n/30.The journal entry to record the collection on account would be:
A) Debit Cash of $625 and credit Sales $625.
B) Debit Cash of $625 and credit Accounts Receivable $625.
C) Debit Accounts Receivable $625 and credit Sales $625.
D) Debit Accounts Receivable $625 and credit Cash $625.
E) Debit Sales $625 and credit Accounts Receivable $625.
Correct Answer:
Verified
Correct Answer:
Verified
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