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-   -   Financial accounting help... Again (https://www.askmehelpdesk.com/showthread.php?t=19107)

  • Jan 29, 2006, 02:33 PM
    jthetalkingtaco
    Financial accounting help... again
    Acouple more T account question...

    Paid $200 of amount purchased on credit on C. (c was purchased repair supplies on credit, $500).

    Accepted cash for repairs completed, $1,860

    Thank you
  • Jan 29, 2006, 09:18 PM
    CaptainForest
    1) paid $200 of amount purchased on credit on C. (c was purchased repair supplies on credit, $500).

    Dr. Accounts Payable 200 (add 200 to the left side)
    Cr. Cash 200 (add 200 to the right side)

    2) accepted cash for repairs completed, $1,860
    Dr. Cash 1860 (add 1860 to the left side)
    Cr. Revenue 1860 (add 1860 to the right side)

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