Which transaction and amount in sales and collections transactions is ultimately included in balance sheet accounts?
A) Accounts receivable
B) Provision for doubtful debts
C) Cash
D) All of the above

Question

Quizplus · Accepted Answer

All three options are included in the balance sheet accounts. Accounts receivable and provision for doubtful debts are included under current assets, while cash is included under current assets or sometimes under cash and cash equivalents (a subset of current assets).

Which Transaction and Amount in Sales and Collections Transactions Is