ICAEW ACA Accounting Practice Questions - ICAEW ACA Certificate Level Accounting (Accounting Fundamentals) Exam

A business sells goods for GBP 600 cash. Which two ledger accounts are affected and how?

Debit sales GBP 600; credit cash GBP 600 Debit cash GBP 600; credit trade receivables GBP 600 Debit trade receivables GBP 600; credit sales GBP 600 Debit cash GBP 600; credit sales GBP 600

Correct Answer:

Debit cash GBP 600; credit sales GBP 600

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