Journal entry to record the collection on account

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Reference no: EM13824185

Mullis Company sold merchandise on account to a customer for $625, terms n/30. The journal entry to record the collection on account would be:

Debit Cash of $625 and credit Sales $625.

Debit Cash of $625 and credit Accounts Receivable $625.

Debit Sales $625 and credit Accounts Receivable $625.

Debit Accounts Receivable $625 and credit Cash $625.

Reference no: EM13824185

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