Mew Ling has the following transactions:1 Receipt of cash from R Singh in respect of an invoice for goods sold three weeks ago2 Receipt of cash from S Kalu for cash sales What are the ledger entries required to record the above transactions?
A、Dr CashCr Sales
B、Dr CashCr SalesCr Trade Receivables
C、Dr SalesCr Cash
D、Dr Trade ReceivablesDr Sales Cr Cash
A、Dr CashCr Sales
B、Dr CashCr SalesCr Trade Receivables
C、Dr SalesCr Cash
D、Dr Trade ReceivablesDr Sales Cr Cash
【参考答案及解析】
Dr CashCr SalesCr Trade ReceivablesCash received is a debit to the cash account. The cash received from R Singh is offset against the trade receivable balance due from R Singh: Dr Cash, Cr Trade Receivables. The cash received from S Kalu is a cash sale: Dr Cash, Cr Sales.
Dr CashCr SalesCr Trade ReceivablesCash received is a debit to the cash account. The cash received from R Singh is offset against the trade receivable balance due from R Singh: Dr Cash, Cr Trade Receivables. The cash received from S Kalu is a cash sale: Dr Cash, Cr Sales.