Accounts Receivable Journal Entries With Example In Accounting
Here we discuss about Accounts Receivable Journal Entries, Previously we discuss about Prepaid Rent Journal Entry in detail. Firstly, we must know about Accounts Receivable Accounts Receivable Definition What is Accounts Receivable? From the point view of business, Accounts Receivable or Debtors are the customers to whom the Entrepreneur sold goods on credit basis for a specified period of time. Accounts Receivable are Current Assets for the business because we will get benefit from Customers in the form of payments against the goods sold to them on credit basis. Debtors / Accounts Receivable Accounting Journal Entries 1. Accounts Receivable First Main Journal Entry That Creates Accounts Receivable When the company sold goods of Rs. 30000 to a Customer (A) on Credit Basis. The following Accounting Journal Entry is passed in the book of the Company: Mr. A 30000 ...