0. T - Accounts

Question 1

11. RECEIVABLES

State whether the following would be debits or credits on a receivables t-account.

1. balance b/f
2. credit sales
3. cash received
4. allowance for receivables
5. balance c/f

Answer 1

1. debit
2. debit
3. credit
4. trick question, shouldn’t be posted here as entry is Dr irrecoverable debts, Cr allowance
5. credit