Henderson Sales sold 400 units of product to a customer on account. The selling price was $25 per unit, and the cost, according to the company's inventory records, was $12 per unit. Please provide the journal entry to record the Sales revenue.
Definitions:
Holding Cash
The practice of keeping a portion of assets in liquid cash form as a safeguard against uncertainty or to meet short-term obligations.
Total Float
The total amount of time that a project task can be delayed without causing a delay to subsequent tasks or the project's final deadline.
Cheques
Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer from the drawer's account.
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