14. a sale is made with credit terms that allow the customer to pay in 30 days. under the accrual method of…

14. a sale is made with credit terms that allow the customer to pay in 30 days. under the accrual method of accounting, which account should be debited at the time of the sale? select... accounts receivable cash sales

14. a sale is made with credit terms that allow the customer to pay in 30 days. under the accrual method of accounting, which account should be debited at the time of the sale? select... accounts receivable cash sales

Answer

Brief Explanations:

Under the accrual - accounting method, when a sale is made on credit (customer pays later), revenue is recognized at the time of sale. The account to be debited is the one representing the amount owed by the customer, which is Accounts Receivable. Cash is debited when the actual payment is received, and Sales is a revenue account which is credited at the time of sale.

Answer:

Accounts Receivable