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The Entry to Journalize the Receipt of a Time Draft

Question 29

Multiple Choice

The entry to journalize the receipt of a time draft for an international sale includes a


A) debit to Sales and a credit to Cash.
B) debit to Cash and a credit to Sales.
C) debit to Sales and a credit to Time Drafts Receivable.
D) debit to Time Drafts Receivable and a credit to Sales.

Correct Answer:

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