If A Company Fails To Record A Cash Sales
If a compa ny or a b usi ness forgets to record a Cas h Sales , t he n it affects cas h accou nt and sales account. Cas h is a Current Asset and recorded on Balance Sheet a nd sales is a direct reve nue and recorded on Income Statement or Profit And Loss Account . The jour nal entry to record is s how n b elow: Cash a/c XXX Sales a/c XXX ...