The correct answer is:
|
|
Debit |
Credit |
No effect |
|
Sales |
|
x |
|
|
Cash |
x |
|
|
|
Trade receivables |
|
x |
|
Cash received is a debit to the cash account. The cash received from R Singh is offset against the trade receivable balance due from R Singh: Dr Cash, Cr Trade Receivables. The cash received from S Kalu is a cash sale: Dr Cash, Cr Sales.
