Question
For the journal entry : Sold goods for 5000 cash What accounts are affected? Is it an increase in revenue/sales and an increase in cash
For the journal entry :
Sold goods for 5000 cash
What accounts are affected? Is it an increase in revenue/sales and an increase in cash or is it a decrease of the asset "inventory" and an increase in cash.
Also is the inventory account the same as purchasing goods account?
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Practical Guide To Accountancy
Authors: Ajit Kumar Chattopadhyay, Amalendu Mukhopadhyay
1st Edition
1642874264, 9781642874266
