luluguero
Mar 13, 2008, 10:14 AM
Hi,
My question is the following:
A N/P account was opened; debit Cash, credit N/P. Co A borrowed money from Co. B.
But, instead of paying Co. B with cash we are providing a service by doing their account-
Ing and payroll and charging a fee, how do I go about entering this transaction in the
Books? Especially, the part where we do the service; what would my journal entry be?
Thank you.
My question is the following:
A N/P account was opened; debit Cash, credit N/P. Co A borrowed money from Co. B.
But, instead of paying Co. B with cash we are providing a service by doing their account-
Ing and payroll and charging a fee, how do I go about entering this transaction in the
Books? Especially, the part where we do the service; what would my journal entry be?
Thank you.