PDA

View Full Version : Confused


Angepange
May 15, 2013, 11:08 PM
Performed services for $ 1500 but received $ 1000 in cash and balance due next month where would yuh put the remaining balance under?

pready
May 19, 2013, 10:10 AM
What the customer owes you would be under accounts receivable.

Your journal entry would be:
Debit Cash for 1,000
Debit Accounts Receivable for 500
Credit Service Revenue for 1,500

Your debits must equal your credits.