We appreciate your visit to The proper journal entry to record the 170 receipt of a bill sent to a customer last month would be A Dr Cash 170 Cr. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
The proper journal entry to record the $170 receipt of a bill sent to a customer last month would be:
Dr Cash 170, Cr Accounts Receivable 170.
This journal entry reflects the receipt of cash from a customer for an outstanding bill. The debit to Cash increases the cash balance, indicating an inflow of funds. The credit to Accounts Receivable reduces the outstanding balance in the Accounts Receivable account, as the customer has now paid the bill.
In this case, the $170 receipt of cash is being recorded, so Cash is debited for $170. Additionally, since the customer was previously billed for this amount, the Accounts Receivable account is credited for $170. This entry properly reflects the cash received and reduces the customer's outstanding balance. the correct journal entry is A. Dr Cash 170, Cr Accounts Receivable 170. This entry ensures accurate recording of the transaction.
To know more about proper journal entry visit:-
https://brainly.com/question/31107454
#SPJ11
Thanks for taking the time to read The proper journal entry to record the 170 receipt of a bill sent to a customer last month would be A Dr Cash 170 Cr. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
