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Question
requirement 1. journalize the transactions (omit explanations) open t - accounts for accounts recelvable and allowance for bad debts using the september 30, 2025 balances post the transactions to the two t accounts begin by journalizing the transactions (record debits first, then credits exclude explanations from journal entries ) sales on account $410,000 ignore cost of goods sold
Step1: Analyze the accounts affected
When there is a sale on account, the Accounts Receivable (an asset account) increases and the Sales Revenue (a revenue account) increases.
Step2: Apply the debit - credit rules
Asset accounts increase with a debit. So, we debit Accounts Receivable. Revenue accounts increase with a credit. So, we credit Sales Revenue.
The journal entry is:
| Date | Accounts | Debit | Credit |
|---|---|---|---|
| Sales Revenue | $410,000 |
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| Date | Accounts | Debit | Credit |
|---|---|---|---|
| Sales Revenue | $410,000 |