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In the vendor’s books, which account is credited when goods are sold on hire purchase?
  • a)
    Hire Purchaser’s Account
  • b)
    Cash Account
  • c)
    Sales Account
  • d)
    Interest Account
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
In the vendor’s books, which account is credited when goods are sold o...
In the vendor’s accounting, the Sales Account is credited to reflect the revenue from the sale of goods under a hire purchase agreement.
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In the vendor’s books, which account is credited when goods are sold on hire purchase?a)Hire Purchaser’s Accountb)Cash Accountc)Sales Accountd)Interest AccountCorrect answer is option 'C'. Can you explain this answer?
Question Description
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