When goods are sold on credit, account is debited and account is credited.

Sales

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Creditors

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Cash

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Debtors

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Sales return

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct options are
A Sales
D Debtors
When goods are sold on credit, debtors which is an asset account is debited as money is receivable from the customers and sales which is a revenue account is credited.

Suggest Corrections

Similar questions

Q. Answer in one sentence only.
Which account will be debited when goods are sold to Ram on credit?

Q. Goods sold to Mr.A on credit shall be credited to account.

Rectify the following errors assuming that suspense account was opened.

Ascertain the difference in trial balance.

(a)	Credit sales to Mohan Rs 7,000 were recorded in Purchase Book. However, Mohan’s account was correctly debited.
(b)	Credit purchases from Rohan Rs 9,000 were recorded in sales book. However, Rohan’s account was correctly credited.
(c)	Goods returned to Rakesh Rs 4,000 were recorded in sales return book. However, Rakesh’s account was correctly debited.
(d)	Goods returned from Mahesh Rs 1,000 were recorded through purchases return book. However, Mahesh’s account was correctly credited.
(e)	Goods returned to Naresh Rs 2,000 were recorded through purchases book. However, Naresh’s account was correctly debited.

Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.

(a) Credit sales to Mohan Rs. 7000 were recorded in purchase book. However, Mohan's account was correctly debited.

(b) Credit purchase from Rohan Rs. 9000 were recorded in the sales book. However, Rohan's account was correctly credited.

(c) Goods returned to Rakesh Rs. 4000 were recorded in sales return book. However, Rakesh's account was correctly debited.

(d) Goods returned from Mahesh Rs. 1000 were recorded through purchase return book. However, Mahesh's account was correctly credited.

(e) Goods returned to Naresh Rs. 2000 were recorded through purchase book. However, Naresh's account was correctly debited.

A shoe manufacturing company sold shoes worth Rs.10,000 to one of it's customer on credit. Which account should be debited and which account is credited?

Join BYJU'S Learning Program

When goods are sold on credit, account is debited and account is credited.

The correct options are A Sales D DebtorsWhen goods are sold on credit, debtors which is an asset account is debited as money is receivable from the customers and sales which is a revenue account is credited.

The correct options are
A Sales
D Debtors
When goods are sold on credit, debtors which is an asset account is debited as money is receivable from the customers and sales which is a revenue account is credited.