I need help journalizing these two entries:
If you can help, please let me know

MAY 1 2006

23. Served as a disc jockey for a party for $1,560. Received $400, with the remainder due on June 4, 2006.



30. Served as a disc jockey for a charity ball for $1200. Received $600, with the remainder due on June 9, 2006.

Please help me journalize these two entries as soon as possible! THANKS! :confused:

Quote:

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Originally Posted by talmich2003

MAY 1 2006
23. Served as a disc jockey for a party for $1,560. Received $400, with the remainder due on June 4, 2006.

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Dr. Cash 400
Dr. Accounts Receivable 1,160
Cr. Revenue 1,560

Dr. Cash of 400 because you received 400 of actual cash. Credit Revenue of 1,560 because that is the total amount of money that you will be getting for this job that you did. The rest, which you have yet to received buy you will, is accounts receivable (1,560-400) which is 1,160

Quote:

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Originally Posted by talmich2003

MAY 1 2006
30. Served as a disc jockey for a charity ball for $1200. Received $600, with the remainder due on June 9, 2006.

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Dr. Cash 600
Dr. Accounts Receivable 600
Cr. Revenue 1,200

Same reason as above.