I need help journalizing the equipment rental fees earned during the second half of December amounted to 20,000, of which 15,600 was received in cash
pready
May 21, 2009, 05:57 PM
You will debit Cash for the amount of Cash Received
Debit Accounts Receivable for what is owed to you
Credit Rental Fees Earned (or appropriate Revenue Account) for the amount of the sale