Miningcave Crypto-Solution is a trendy and dynamic company specializing in the field of Digital-currencies. Always at the forefront and seeking the latest technologies, our mission is to provide both efficient and accessible mining solutions. Whatever the size of your project, our specialists will accompany and advise you in achieving your goals.
Since accounts receivable and inventory are balance sheet items, they do not directly affect your companyâs income statement. Fluctuations or changes in these two current assets always appear on the balance sheet and on the cash flow statement. Revenues on the income statement show up as A/Rs or cash on the balance sheet and cash flow statement.
Received cash on account 300 which part of assets increase? The answer is in your question actually. If you received cash on account the asset of CASH will increase, while the asset of Account Receivable will decrease. Since you receivâ¦ed cash it is assumed that they paid you cash on a balance that they owed you, so the journal entry would be a debit to cash (increase) and a credit to accounts receivable (decrease)