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What are the journal entries in O2C Cycle.

Answer Posted / anji

1. Enter Sales Order: Accounting impact Nil
2. Ship items
-----------Debit ---------PCO
-----------Credit --------Inventory
3. Enter invoice
-----------Debit ---------Receivables
-----------Credit --------Revenue
4. Enter receipts
-----------Debit ---------Cash / Bank
-----------Credit --------Accounts Receivables

Is This Answer Correct ?    79 Yes 6 No



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