ACC 212 Revision
Quiz by ENAS MOHAMMED JAFFAR ABBAS SHABIB
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To Record Purchase on Account we Record
Dr Merchandise Inventory Cr Account Receivable
Dr Merchandise Inventory Cr Cash
Dr Merchandise Inventory Cr Account Payable
To Record Sales On Account the first entry will be
Dr Account Payable Cr Sales
Dr Account Receivable Cr Sales
Dr Cash Cr Sales
To Record Purchase on Account we Record
To Record Sales On Account the first entry will be
2/15,N/30 stands for
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