The ledger entries to be made if cash sales is banked is ...
The ledger entries to be made if cash sales is banked is debit
Cash, credit sales
Sales, credit cash
Bank, credit cash
Bank, credit sales
Correct answer is D
Debit Bank Account and Credit sales - this highlights that you have taken the cash “out of your pocket” and put it in to your bank account.
The effect on profit when the closing stock is understated is ...
Which of the following is not a debit entry on a sales ledger control account? ...
Which of the following is found in the private ledger? ...
.........................31 Dec. 05........31 Dec. 06 Total fixed assets.........N7,800.............
Which of the following is not used for determining working capital? ...
Subscription in advance is treated in the balance sheet as a ...
Which of the following is a trading account item? ...
From the following, determine the value of the closing stock using: Feb 1 purchased 200 units @ �...