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When the goods are sold on credit, the company does not receive the cash but a promise to be paid by the person buying the goods. These are the debtors or accounts receivables for the company. The journal entry for this particular transaction is: Dr. Debtors/Accounts Receivables Cr. Sales/Revenue As such the impact is that the debtors of the company increase.
Statement:
I: The fare of public transport dropped marginally last week.
II: The state government reduced the tax on public transport l...
What is the extension of a PowerPoint file?
Who amongst the following go to Dehradun?
Who among the following has ordered from Meesho?
How many seats are there around the table?
Statement:
Many private sector banks have reduced interest rate on housing loans in comparison to public sector banks.
Courses of acti...