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ayoka
Feb 21, 2007, 09:44 AM
I am trying to fiquire out how to journalize an entry. Here is the scenario:
1) Purchase Materials for a job $1000

And the second scenario:
1) Received downpayment from a client for $4000 for a job

Both entries were captured in another quickbooks account and need to be brought over to the correct account.

CaptainForest
Feb 21, 2007, 03:44 PM
Dr. Purchases 1,000
Cr. Cash 1,000

Dr. Cash (for the down payment amount)
Cr. Unearned Revenue (for the same amount)