Action Accounting
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Patricia Green's Organic Fruit and Vegetable Stall
Double Entry: Transaction 7 / of 8
Scene 26
/ of 60
Introduction
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Double Entry
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Balancing Accounts
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Trial Balance
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Income Statement
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Balance Sheet
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Completed Financial Statements
At the end of a busy Saturday (6th October), I counted the money I received and found that sales amounted to €700 for the day, which I lodged in the bank night safe on my way home.
Transaction: October 6th lodged Sales of €700 into the bank.
Tick which two ledger accounts should be used.
Bank Account
Capital Account
Creditor - Retail Displays Account
Equipment Account
Furniture Account
Insurance Account
Purchases Account
Rent Account
Sales Account
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That'is correct.
The bank account and the sales account are the two accounts involved in the transaction.
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The bank account and the sales account are the two accounts involved in the transaction.
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