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3 August, 02:25

Which of the following entries records the receipt of cash from clients on account? a. Accounts Receivable, debit; Fees Earned, credit b. Accounts Receivable, debit; Cash, credit c. Cash, debit; Accounts Receivable, credit d. Accounts Payable, debit; Fees Earned, credit

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  1. 3 August, 05:21
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    c. Cash, debit; Accounts Receivable, credit

    Explanation:

    When sales are made on credit, the entries posted are;

    Debit Account receivable

    Credit Sales account

    Being entries to recognize credit sales.

    On receipt of cash from the client, the following entries are recorded;

    Debit Cash account

    Credit Account receivable

    Being entries to recognize cash received from the client.

    Hence the right option is c. Cash, debit; Accounts Receivable, credit
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Home » Business » Which of the following entries records the receipt of cash from clients on account? a. Accounts Receivable, debit; Fees Earned, credit b. Accounts Receivable, debit; Cash, credit c. Cash, debit; Accounts Receivable, credit d.
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