Black Systems sold and delivered modems to White Computers for $330.000 to be paid by White in

Question:

Black Systems sold and delivered modems to White Computers for $330.000 to be paid by White in three equal installments over the next three months. The journal entry made by Black Systems to record this transaction will include:
a. A debit to Sales Revenue for $330,000.
b. A debit to Accounts Receivable for $330.000.
c. A debit to Accounts Receivable for $110,000.
d. A debit to Cash Paid for $330,000.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamental financial accounting concepts

ISBN: 978-0078025365

8th edition

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

Question Posted: