Log in

View Full Version : Accounts receivable and Accrual Receivable


jira08
Jan 16, 2008, 05:59 PM
When to record accounts receivable and accrual receivable. For example: the business has performed service to a customer (carpet cleaning) and a bill has issued to the customer. $100 Should we record
Dr. Accrounts receivable 100
Cr. Revenue 100
Or

Dr. Accrual revenue 100
Cr. Revenue 100

delite
Jan 18, 2008, 11:49 PM
You will record the sale as a credit and a contra amount for acct's rec. when recievalbe are paid, debit cash;credit receivables.