what is debited when inventory is sold on account?\naccounts receivable\naccounts payable\ninventory
what is debited when inventory is sold on account?\naccounts receivable\naccounts payable\ninventory
Answer
Answer:
A. Accounts Receivable
Brief Explanations:
When inventory is sold on - account, the customer owes money to the seller. Accounts Receivable is debited to record the amount the customer owes. Accounts Payable is related to amounts the company owes, and inventory is credited (not debited) when sold.