add11
Sep 2, 2009, 03:24 PM
The following in a summary of the transactions for the year:
Sales of services, $100,000, of which $30,000 was on credit.
I think the on credit is throwing me off.
Do you debit service revenue $100,000 and credit accounts payable $30,000 and cash $70,000 or am I going at this all wrong?
Sales of services, $100,000, of which $30,000 was on credit.
I think the on credit is throwing me off.
Do you debit service revenue $100,000 and credit accounts payable $30,000 and cash $70,000 or am I going at this all wrong?