Question
In: Accounting
During March, Seconds Best Company had cash sales of $35,000 and sales on account of $210,000....
During March, Seconds Best Company had cash sales of $35,000 and sales on account of $210,000. In April, payments on account totaled $175,000. The journal entry prepared by Seconds Best to record the March sales would include a debit to: Multiple Choice
Cash for $35,000, debit to Accounts Receivable for $210,000, and credit to Sales Revenue for $245,000.
Cash for $35,000, debit to Deferred Revenue for $210,000, and credit to Sales Revenue for $245,000.
Cash for $35,000, debit to Accounts Payable for $210,000, and credit to Sales Revenue for $245,000.
Cash and credit to Sales Revenue for $35,000.
Solutions
Expert Solution
A. Cash for $35,000, debit to Accounts Receivable for $210,000, and credit to Sales Revenue for $245,000.
| General Journal | Debit | Credit |
| Cash | $35,000 | |
| Accounts Receivable | $210,000 | |
| Sales Revenue | $245,000 |
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