Answered: When a company makes a sale and accepts…

When a company makes a sale and accepts a credit card payment from a customer, the company: Multiple Choice debits Cash. credits Accounts Receivable. credits Cash. debits Accounts Receivable.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

When a company makes a sale and accepts a credit card payment from a customer, the company:
Multiple Choice
debits Cash.
credits Accounts Receivable.
credits Cash.
debits Accounts Receivable.
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