Ang Ltd receives $65,000 from accounts receivable for sales in previous months.
How would Ang record the transaction in their accounting information system?

Question

Ang Ltd receives $65,000 from accounts receivable for sales in previous months. How would Ang record the transaction in their accounting information system?

Accepted Answer

DR             Cash                65,000 
           CR              Accounts receivable        65,000

Answer

DR             Cash                65,000 
           CR              Sales revenue        65,000

Answer

DR             Cash                65,000 
           CR             Prepayments        65,000

Answer

DR             Accounts receivable                65,000 
           CR              Sales revenue                             65,000

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Ang Ltd receives $65,000 from accounts receivable for sales in previous months. ...

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