The journal entry to record the sale of services on credit should include:(a) Debit to debtors and credit to capital.(b) Debit to cash and Credit to debtors.(c) Debit to fees income and Credit to debtors.(d) Debit to debtors and Credit to fees income.
The journal entry to record the sale of services on credit should include:(a) Debit to debtors and credit to capital.(b) Debit to cash and Credit to debtors.(c) Debit to fees income and Credit to debtors.(d) Debit to debtors and Credit to fees income.
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter2: Analyzing Transactions
Section: Chapter Questions
Problem 4E: Rules of debit and credit The following table summarizes the rules of debit and credit. For each of...
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(a) Debit to debtors and credit to capital.
(b) Debit to cash and Credit to debtors.
(c) Debit to fees income and Credit to debtors.
(d) Debit to debtors and Credit to fees income.
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