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I raised an invoice for an amount of 20,400 dhs. Equivalent to 4,000 EURO but I received 21,000 dhs. As payment which is over of 600 dhs. I booked it as Debit - Bank - 21,000 & Credit - A/R - 20,400;...

Thanks a lot, it answered my question. Yes I want to know more about revenue recognition requirements.

Please check if this entry is correct for raising an invoice as down payment:

Debit - accounts receivable
Credit - Down payment

If payment is received:

Debit - cash
Credit - ...

What is the correct journal entry for the invoice issued to customer as down payment?