inquiringmind10
Jan 17, 2010, 05:22 PM
There are several posting to the general ledger I am not sure how to record. These entries are for the October ledger accounts and balance sheet. One is Oct 17 performed $600 of services for customers who paid in advance in August. Is this a service revenue or what? The other one is Oct 20 paid $1,500 to creditors for accounts payable due. Would is be considered as accounts payable?
Cash 600
Service Revenue
Unearned Service Revenue
Accounts Payable 1500
Cash
??
Cash 600
Service Revenue
Unearned Service Revenue
Accounts Payable 1500
Cash
??