South Africa Credit Sales in Double Entry system


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Hi,

If I make a credit sale of $1200 to a client, I would debit the debtor's control account and credit the sales account, correct? What is the effect on Assets or Owner's Equity? Do they increase or decrease?

Thank you.
 
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Triest123

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Hi,

If I make a credit sale of $1200 to a client, I would debit the debtor's control account and credit the sales account, correct? What is the effect on Assets or Owner's Equity? Do they increase or decrease?

Thank you.
=> Yes . Both Assets & Owner's Equity increase
 

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