Recognizing Accounts Receivable On June 7, Bixby Co. sells $1,000 of merchandise to Jasmine Co. on account. Jasmine Co. pays for this merchandise on June 21. a. Prepare the entry on Bixby's books to record the sale. b. Prepare the entry on Bixby's books to record the receipt of payment. General Journal Description Debit Credit Date June 7 To record sales of merchandise. General Journal Description Debit Credit Date June 21 To record receipt of cash from customer