For sale of furniture on credit, following journal entry will be passed.
A. Furniture- debit and accounts payable- credit
B. Asset debit- and accounts payable- credit
C. Accounts receivable- debit and sales- credit
D. Accounts receivable- debit and furniture- credit
Answer:D
For sale of furniture on credit, following journal entry will be passed.
A. Furniture- debit and accounts payable- credit B. Asset debit- and accounts payable- credit C. Accounts receivable- debit and sales- credit D. Accounts receivable- debit and furniture- credit