Answered

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The transaction RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ONITS ACCOUNT would result in the journal entry:

Sagot :

Answer: debit cash and then credit accounts receivable/Parker, inc

Explanation:

The journal entry is used in recording transactions that a business does in either the debit side or the credit side.

In this case, the transaction Received check from Parker for payments on its account will be recorded in the journal entry as debit in cash and then credit to the accounts receivable/Parker, inc. it should be noted that the account receivable has to do with the funds that are owed the business by its customers.

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