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dmlaws
Feb 11, 2008, 03:41 PM
How do i post the following: Repair service performed for $600.00 cash and $900.00 on account?

morgaine300
Feb 11, 2008, 09:18 PM
I'm assuming it's meaning that there was a total of $1500 of repair services done, and that $600 was paid in cash at the time and $900 charged to be paid later. I could be wrong.

Can you please also post your attempts to do the problem rather than just asking for an answer? But here's a couple of things to think about. If it says cash, take it literally. It's cash. And what would you do to cash if you paid it? (i.e. dr or cr) Also, what does "on account" mean? It means you haven't paid it yet. Where do things go that you haven't paid yet? And lastly, you had someone perform this service for you. What kind of account is that?

Make an attempt to do it. Even if you get stuck, post whatever you come up with.