Question
Belly Ltd sold goods to Andrews LTD for $ 1000. Andrews ltd paid the account 28 days later. Ignoring GST, the correct entry in Balley
Belly Ltd sold goods to Andrews LTD for $ 1000. Andrews ltd paid the account 28 days later. Ignoring GST, the correct entry in Balley ltd's books to record the payment by Andrews Ltd is.
a. DR Accounts receivable $1000, CR Equity $1000
b. DR Cash at Bank $1000; CR Accounts Receivable $1000
c. DR Cash at Bank $1000; CR sales $1000
d. DR Accounts Receivable $1000; CR Sales $1000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
The correct entry in Belly Ltds books to record the p...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Accounting
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
9th edition
1118608224, 1118608227, 730323994, 9780730323990, 730319172, 9780730319177, 978-1118608227
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App