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jude1010
Jun 9, 2007, 01:50 PM
If you have the following, would you??

Received fees for this month's services $1,300
Debit Cash and Credit Services Earned?

And... if you have Reimbursed the bus ddriver for gas expenses $80
Debit Gasoline Expenses and Credit Cash?

And... if you have Received payment for one month's services from customers previously billed $1,000
Debit Cash and Credit Accounts Receivable?

And... if you billed customers who had not yet paid for this month's services $1,400
Debit Accounts Payable and Credit Services Earned?

And.. one more... If you Received payments from customers on account $2,400
Debit Cash and Credit Accounts Receivable?

Thanks

CaptainForest
Jun 10, 2007, 09:37 AM
They are all correct, except for this one:


and...if you billed cusotmers who had not yet paid for this month's services $1,400
Debit Accounts Payable and Credit Services Earned?

You should Debit Accounts Receivable and your Credit portion is correct.