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    sosorryforyou's Avatar
    sosorryforyou Posts: 1, Reputation: 1
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    #1

    May 18, 2009, 07:54 PM
    Journal entry
    I need help journalizing the equipment rental fees earned during the second half of December amounted to 20,000, of which 15,600 was received in cash
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    May 21, 2009, 05:57 PM

    You will debit Cash for the amount of Cash Received
    Debit Accounts Receivable for what is owed to you
    Credit Rental Fees Earned (or appropriate Revenue Account) for the amount of the sale
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