Alerts Wishlist Cart

What is the journal entry to record the sale of goods for cash?

Practice Questions

Q1
What is the journal entry to record the sale of goods for cash?
  1. Debit Cash, Credit Sales Revenue
  2. Debit Sales Revenue, Credit Cash
  3. Debit Accounts Receivable, Credit Sales Revenue
  4. Debit Sales Revenue, Credit Accounts Receivable

Questions & Step-by-Step Solutions

What is the journal entry to record the sale of goods for cash?
  • Step 1: Identify the transaction - You sold goods and received cash.
  • Step 2: Determine the accounts involved - Cash and Sales Revenue.
  • Step 3: Increase the Cash account - Since you received cash, you need to debit (add) the Cash account.
  • Step 4: Recognize the income - You need to credit (add) the Sales Revenue account to show that you earned money from the sale.
  • Step 5: Write the journal entry - Debit Cash and Credit Sales Revenue.
No concepts available.
Biology (School & UG)
Biology (School & UG)
Chemistry (School & UG)
Chemistry (School & UG)
Civil Engineering
Civil Engineering
Commerce & Accountancy
Commerce & Accountancy
Computer Science & IT
Computer Science & IT
Current Affairs & GK
Current Affairs & GK
Data Structures & Algorithms
Data Structures & Algorithms
eBooks
eBooks
Electrical & Electronics Engineering
Electrical & Electronics Engineering
English (School)
English (School)
General Aptitude
General Aptitude
General Knowledge
General Knowledge
General Knowledge & Current Affairs
General Knowledge & Current Affairs
Languages & Literature
Languages & Literature
Law & Legal Studies
Law & Legal Studies
Major Competitive Exams
Major Competitive Exams
Mathematics (School)
Mathematics (School)
Mechanical Engineering
Mechanical Engineering
Medical Science
Medical Science
Physics (School & Undergraduate)
Physics (School & Undergraduate)
Quantitative Aptitude & Reasoning
Quantitative Aptitude & Reasoning
Social Science (School)
Social Science (School)
Technical
Technical
Verbal and Reasoning
Verbal and Reasoning
Vocational & Skill Development
Vocational & Skill Development
Soulshift Feedback ×

On a scale of 0–10, how likely are you to recommend The Soulshift Academy?

Not likely Very likely