outofbalance2
Jun 21, 2007, 04:54 PM
How is this entry completed.
Our customer xyz company owes us $1000.00 which of course is in our A/R, We in turn owe xyz company 250.00 which is in our A/P. The owner decided to tell xyz company to subtract what we owe them and mail a check for the difference and call it even...
Accounting wise how is this handled?:
Our customer xyz company owes us $1000.00 which of course is in our A/R, We in turn owe xyz company 250.00 which is in our A/P. The owner decided to tell xyz company to subtract what we owe them and mail a check for the difference and call it even...
Accounting wise how is this handled?: