In an earlier lecture you noted that debits and credits would all follow if you learnt the cash account (debit side is cash received and credit side is cash paid) but then how does this follow on to knowing you should debit receivables a/c with the $82,000 balance because receivables are an asset in this example?
eisenbergj100 says
In an earlier lecture you noted that debits and credits would all follow if you learnt the cash account (debit side is cash received and credit side is cash paid) but then how does this follow on to knowing you should debit receivables a/c with the $82,000 balance because receivables are an asset in this example?