a-customer-pays-800-for-a-previous-credit-sale-what-is-the-impact-on-the-account

Question

A customer pays $800 for a previous credit sale. What is the impact on the accounts receivable and cash accounts?

Accepted Answer

Debit Cash $800; Credit Accounts Receivable $800.

Answer

Debit Accounts Receivable $800; Credit Cash $800.

Answer

Debit Cash $800; Credit Revenue $800.

Answer

Debit Revenue $800; Credit Cash $800.

A customer pays \$800 for a previous credit sale. What is the impact on the accounts receivable and cash accounts?