I have to record journal entries for the following transactions

Jan 4 -Purchases party favor from TL Max for cash outlay of $35.00 to be used at the forthcoming birth party schedule for Jan. 8th

Jan 8 Performed birthday party for $35 for Steven Family; collected cash of $245


What are the journal entries for the above transaction? Can you explain the transactions

Thanks

Debit an expense account for the $35 and credit cash. The $245 received is your revenue, so debit cash for $245 and credit a revenue account.

Sounds to me like someone's homework question they cut and pasted.

https://www.askmehelpdesk.com/financ...ard-25444.html