Selected accounts at July 31 are provided below:

-Refer to Hesson Properties. What journal entry is required to record the collections on account from customers?

Question

Selected accounts at July 31 are provided below:
  
-Refer to Hesson Properties. What journal entry is required to record the collections on account from customers?

Quizplus · Accepted Answer

The journal entry required to record the collections on account from customers is to debit the cash account and credit the accounts receivable account. Option A is the correct journal entry. Option B records revenue being earned, not collections, and option C records a payment to a vendor, not a collection from a customer. Option D is the reverse of the correct entry, as it records cash being earned rather than received.

Selected Accounts at July 31 Are Provided Below