Not every business makes cash sales.  However, with a credit sale, there is no immediate entry in the Cash account, since no cash has actually changed hands.  Therefore, debtors accounts are used.  For example, if a business makes a credit sale for £200, the sale itself is accounted for as follows:

DEBTORS ACCOUNT
Debit £200

SALES ACCOUNT
Credit £200

Leave a Reply

(required)

(required)

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

© 2010 Figurate Ltd Protected by Copyscape Original Content Check Site Map | Statutory | Copyright | Disclaimer | Privacy | Contact Suffusion theme by Sayontan Sinha
Content Protected Using Blog Protector By: PcDrome.