Journal Entry To Record Sales
The Journal Entry To record Sales depends upon types of Sales Transaction i.e., if it is a Cash Sales , then we debited cash account and credited Sales accounts, but if sales is made on credit basis or on account ( Credit Sales ), then we Debited Accounts Receivable instead of Cash Account and credited Sales accounts. For Example, if Mr. A sold goods worth Rs. 5000 To Mr. B for Cash, then following entry is recorded in the Cash Book of Business as shown below: Cash a/c 5000 ...