Use the following five transactions for Morton & Associates, Inc.to answer the questions).
-See the transactions to Morton & Associates.
The journal entry to record the May 1 transaction will include a debit of $800 to
A)Sales Revenue
B)Accounts Receivable
C)Cash
D)Retained Earnings

Question

Use the following five transactions for Morton & Associates, Inc.to answer the questions). 
-See the transactions to Morton & Associates.
The journal entry to record the May 1 transaction will include a debit of $800 to
A)Sales Revenue 
B)Accounts Receivable 
C)Cash 
D)Retained Earnings

Quizplus · Accepted Answer

The transaction on May 1 likely involved a sale on credit, which would increase Accounts Receivable by $800.

Use the Following Five Transactions for Morton & Associates, Inc