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-   -   Rent was $1,200 and paid $400.00 would be a debit to my receivables? (https://www.askmehelpdesk.com/showthread.php?t=646897)

  • Mar 29, 2012, 10:32 AM
    summit2010
    Rent was $1,200 and paid $400.00 would be a debit to my receivables?
    Rent was $1,200 and paid $400.00 would be a debit to my receivables?
  • Mar 29, 2012, 12:08 PM
    pready
    Your rent revenue was $1,200 and you received $400 so your customer owes you $800

    Your journal entry will look like this:
    Debit Cash for 400
    Debit Accounts Receivable for 800
    Credit Rent Revnue for 1,200

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