Author Question: Clean Sweep, Inc performed 300 in services and collected 200 at the time of service. The journal ... (Read 106 times)

asmith134 · **on:** Jul 5, 2018

Clean Sweep, Inc performed 300 in services and collected 200 at the time of service. The journal entry to record this transaction would include a ________.

A) credit to Revenue of 200
B) debit to Cash of 300
C) credit to Accounts receivable of 300
D) debit to Accounts receivable of 100

Question 2

A sale of 750 on account, subject to a sales tax of 6, would be recorded as an account receivable of 750.
a. True
b. False

Indicate whether the statement is true or false