As an asset account, the accounts receivable (Sales Ledger Control) build up the debit side. So:
First off, sales are credited the amount then the receivable account is debited the same amount. Once payment has been made then accounts receivable is credited and the bank is debited.
A Credit entry reduces Accounts Receivable
debit cash / bankcredit accounts receivable
Collections on account refer to money collected from customers who have already received goods/services on credit. Hence, the double entry is: Dr Cash Cr Accounts receivable
Journal Entry for Rent Received:[Debit] Rent Received[Credit] Cash/bankJournal entry for rent receivable[Debit] Accounts Receivable[Credit] Rent Receivable
Under the allowance method, entry would be: Allowance for Doubtful Accounts (DR) Account Receivable (CR)
Cash/Bank/Accounts Receivable [Debit] Sales[Credit]
A Credit entry reduces Accounts Receivable
debit cash / bankcredit accounts receivable
Collections on account refer to money collected from customers who have already received goods/services on credit. Hence, the double entry is: Dr Cash Cr Accounts receivable
Journal Entry for Rent Received:[Debit] Rent Received[Credit] Cash/bankJournal entry for rent receivable[Debit] Accounts Receivable[Credit] Rent Receivable
Buyer a/c dr. To Sales a/c. The GAAP shows such an entry as: Account Receivable (debit) $$$ Sales (Revenue) (credit) $$$ This is based on Double-Entry Accounting as standardized by the GAAP. For.buyer's a/c dr. amount to sales a/c amount Accounts-receivable and Sales(sales being in your Results and accounts-receivable in your balance sheet
Under the allowance method, entry would be: Allowance for Doubtful Accounts (DR) Account Receivable (CR)
Accounts-receivable@ Sales(sales being in your Results and accounts-receivable in your balance sheet)
When product sold:[Debit] Accounts receivable[Credit] Sales revenueAdjusted Entry:[Debit] Cash / bank[Credit] Accounts receivable
Debit accounts receivableCredit sales revenue
debit bad debts 42000credit accounts receivable 42000
debit accounts receivablecredit sales