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-   -   Collection of an account receivable is recorded by a debit to Cash and (https://www.askmehelpdesk.com/showthread.php?t=456496)

  • Mar 10, 2010, 06:11 AM
    antw
    Collection of an account receivable is recorded by a debit to Cash and
    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
  • Mar 10, 2010, 06:22 AM
    kumar1000

    . 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

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