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View Full Version : Collection of an account receivable is recorded by a debit to Cash and


antw
Mar 10, 2010, 06:11 AM
The collection of an account receivable is recorded by a debit to Cash and a credit to Accounts Payable. If this error is not corrected

kumar1000
Mar 10, 2010, 06:22 AM
. Pass the following entries:

1) Account Payable : Dr.
Cash A/c : Cr.
2) Cash A/c : Dr.
Account Receivable : Cr.
This will correct this problem