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    leahk0429's Avatar
    leahk0429 Posts: 1, Reputation: 1
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    #1

    Sep 10, 2008, 12:42 PM
    How would you journalize this?
    Mrs. O'Shea hired Ralph to paint all of her trim on her house. She agreed to pay a total of $400 for the work. She paid $150 now, and would pay the balance later.
    plonak's Avatar
    plonak Posts: 742, Reputation: 117
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    #2

    Sep 10, 2008, 03:20 PM
    From Mrs. O'shea's books it would look like this:

    <dr> Expense (painting) 400
    <cr> Accounts payable 250
    <cr> Cash 150
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