what are the accounting entries which get effected in order
to cash cycle
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Answer Posted / anand
1.Sales Order Creation:- NO ENTRY
2. Release of Finished Inventory:-
Finished Goods A/c Dr
To WIP (work in progress) goods A/c
3. Shipping:-
Cost of Goods Sold A/c Dr
To Finished Goods A/c
4. Invoice:-
Customer A/c Dr
To Sales A/c
5. Payment:-
Bank A/c Dr
To customer A/c
| Is This Answer Correct ? | 7 Yes | 1 No |
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