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    maty318's Avatar
    maty318 Posts: 1, Reputation: 1
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    #1

    Jul 20, 2009, 05:38 AM
    How to journalize
    How do I journalize this transaction. John Dunn storage's revenue for the past week totalled $900
    teonguyen's Avatar
    teonguyen Posts: 12, Reputation: 1
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    #2

    Jul 20, 2009, 09:51 AM

    Here I would record this way

    If John Dunn sold for cash

    Dr.Cash 900
    Cr. Service Revenue or (Sales) 900

    If John Dunn Sold on account

    Dr. Account Receivable 900
    Cr. Service Revenue or (Sales) 900
    Jhomejing's Avatar
    Jhomejing Posts: 2, Reputation: 1
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    #3

    Aug 14, 2009, 09:34 AM

    Leon invested 50 thousand
    sharker's Avatar
    sharker Posts: 6, Reputation: 1
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    #4

    Feb 20, 2012, 03:49 AM
    Account Receivable Dr. $900
    To, Service revenue $900
    (To record revenue)
    It is mentioned here that if there is nothing mentioned about cash or credit then it is assumed that the transaction in credit one)
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