In the sale of goods on account, which of the following accounts is decreased from the collection of cash from the sale on account?

Name: In the sale of goods on account, which of the following accounts is decreased from the collection of cash from the sale on account?
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Question

Quizplus · Accepted Answer

When cash is collected from a sale on account, the Accounts Receivable account is decreased because the customer has paid off their outstanding balance.

In the Sale of Goods on Account, Which of the Following