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Journalize the transaction: collected 1623 cash from customers billed on July 12
cpstewie
Feb 1, 2013, 02:45 PM
Can anyone help journalize this for me
pready
Feb 2, 2013, 09:29 AM
This is very simple, as you you have to do is Debit Cash for the amount received because you are receiving cash and Credit Accounts Receivable for the same amount because customers are paying on their account.