Received Cash From Customers On Account Increase Or Decrease
Cash / Check Collected From Customers On Account / Credit Increase Decrease Received cash from customers or clients on account increases Cash Account and decreases Accounts Receivable as we collect cash from customers to whom we sold merchandise / goods or rendered services on account / credit. The journal entry for cash collection is shown below: Collections From Customers / Clients On Account Journal Entry Cash a/c XXX ...