(a) A company makes a $25,000 sale on account. The company expects that $10,000 will be collected within a week and the balance within a month. What is the proper entry to record the transaction at the time of sale? 

(b) A company makes a $30,000 sale on account but with a 10% cash down payment. What is the proper entry to record this transaction? You are required to give your answer with proper explanation.  

Answer rating: 100% (QA)

a To record the 25000 sale on account you would use the following journal entry Debit Accounts Recei... View the full answer