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The sales account, meanwhile, will be credited and, in the income statement of the business, will be shown as revenue. The credit sales journal entry is an important accounting entry for businesses. With this method, transactions are abnormally recorded in two or more accounts simultaneously. These entries generally involve a credit to one or more

Marginal Costing is another type of managerial accounting that deals with the cost of goods. It involves determining the impact of adding one additional unit of a product to the purchase or production order. Financial accounting is only aimed at keeping historical data about all the financial transactions a company has engaged in. It is