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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Financial accounting
Hii sir,
The sales proceeds have been debited to the bank account and credited to a sales account.
Is there any error, if yes which item it will affect in the income statement ans statement of financial position
Thank you
Assuming that these are cash sales (as opposed to sales on credit) then there is no error and the entry is correct.
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