Under the accrual basis of accounting, sales on account are not recorded in the sales journal until payment is received.

Name: Under the accrual basis of accounting, sales on account are not recorded in the sales journal until payment is received.
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Under the accrual basis of accounting, sales on account are recorded when they are made, regardless of when payment is received. The receipt of payment is recorded separately in the accounting system.

Under the Accrual Basis of Accounting, Sales on Account Are