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PDA

petkona
Feb 25, 2009, 10:04 PM
Sales for video and food concessions amounted to $4,840 and 10% of $4,840 equals $484. Since you have already recorded $250 as concessions income, record the additional $234 revenue due from the concessionaire (cash was not received)

This is what I think it should look like, correct me if I’m wrong.

Accounts Receivable DEBIT $234
Concessions Income CREDIT $234
:confused: