Performed services for $ 1500 but received $ 1000 in cash and balance due next month where would yuh put the remaining balance under?
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Performed services for $ 1500 but received $ 1000 in cash and balance due next month where would yuh put the remaining balance under?
What the customer owes you would be under accounts receivable.
Your journal entry would be:
Debit Cash for 1,000
Debit Accounts Receivable for 500
Credit Service Revenue for 1,500
Your debits must equal your credits.
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