Question 4 The accruals concept states that: Not yet answered Marked out of 1.0 Select...
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Accounting
Question 4 The accruals concept states that: Not yet answered Marked out of 1.0 Select one: O a Sales can only be recorded when cash has been received from the customer P Flag question O b. Profit is the excess of cash received over cash paid O c. Profit is the excess of sales revenue over expenses incurred in generating that sales revenue O d. Expenses should only be recorded when they have been paid A business sells goods worth 5000 to a customer on credit. What are the entries required to record this transaction? Question 5 Not yet answered Select one: Marked out of 1.0 O a Debit cash at bank 5000 P Flag question Credit sales 5000 O b. Debit trade receivables 5000 Credit sales 5000 Oc. Debit sales 5000 Credit trade receivables 5000 Od Debit sales 5000 Credit cash at bank 5000
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