How would your company track sales income in a journal entry in the accounting cycle? (1 point) Responses recorded as a credit recorded as a credit recorded as a debit recorded as a debit recorded as a balance recorded as a balance recorded as a closure

Answer 1

In the accounting cycle, sales income would typically be recorded as a credit in a journal entry. This is because revenue accounts (like sales income) increase with credits. The corresponding debit would usually go to either cash (if the sale was made in cash) or accounts receivable (if the sale was made on credit).

So the correct response would be: recorded as a credit.