The account credited for a receipt of cash on account is
A)Cash.
B)Service Revenue.
C)Accounts Receivable.
D)Accounts Payable.

Name: The account credited for a receipt of cash on account is A)Cash. B)Service Revenue. C)Accounts Receivable. D)Accounts Payable.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When cash is received on account, it means a customer is paying off their outstanding balance. The cash account is debited, and the accounts receivable account is credited to reflect the reduction in the amount owed by the customer.

The Account Credited for a Receipt of Cash on Account