Ask Experts Questions for FREE Help !
Ask
    jude1010's Avatar
    jude1010 Posts: 4, Reputation: 1
    New Member
     
    #1

    Jun 9, 2007, 01:50 PM
    General Ledger Posting
    If you have the following, would you??

    Received fees for this month's services $1,300
    Debit Cash and Credit Services Earned?

    And... if you have Reimbursed the bus ddriver for gas expenses $80
    Debit Gasoline Expenses and Credit Cash?

    And... if you have Received payment for one month's services from customers previously billed $1,000
    Debit Cash and Credit Accounts Receivable?

    And... if you billed customers who had not yet paid for this month's services $1,400
    Debit Accounts Payable and Credit Services Earned?

    And.. one more... If you Received payments from customers on account $2,400
    Debit Cash and Credit Accounts Receivable?

    Thanks
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #2

    Jun 10, 2007, 09:37 AM
    They are all correct, except for this one:

    Quote Originally Posted by jude1010
    and...if you billed cusotmers who had not yet paid for this month's services $1,400
    Debit Accounts Payable and Credit Services Earned?
    You should Debit Accounts Receivable and your Credit portion is correct.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Transferring from General Journal to the General Ledger [ 1 Answers ]

When transferring from the General Journal to the General Ledger which cash items do you transfer .:confused:

General ledger entry [ 5 Answers ]

The transaction is: Pays Green Jacket Co. on account. What 2 ledgers would I use?

Posting to General Ledger [ 1 Answers ]

I need to post to General Ledger the following: 21 Billed customers for cleaning offices $670 29 Received $300 from the cusomters billed on the 21 How do I post these?

General Ledger [ 1 Answers ]

How do I post to General Ledger: October 2 Ordered cleaning suuplies, $500 October 7 Received the cleaning supplies ordered on October 2 agreed to pay half the amount in 10 days and the rest in 30 days?

Posting to General Ledger [ 1 Answers ]

I need to post to General Ledger the following: 21 Billed customers for cleaning offices $670 29 Received $300 from the cusomters billed on the 21 How do I post these?


View more questions Search