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    pyriad45's Avatar
    pyriad45 Posts: 8, Reputation: 1
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    #1

    Oct 7, 2011, 07:49 AM
    Journal Entries
    I would like to know how would you enter this transaction. Jay completed a landscaping and clean up job for a client. He left the client a bill for $720. How do you enter this in the journal when no money was paid on this bill.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Oct 7, 2011, 10:49 AM
    Debit Account Receivable for the amount
    Credit Service Revenue for the amount.
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    pyriad45 Posts: 8, Reputation: 1
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    #3

    Oct 8, 2011, 10:43 AM
    The credit is right but there was no money received yet so what would be the debit.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #4

    Oct 8, 2011, 03:29 PM
    I told you in my previous post that the Debit is to Accounts Receivable.

    When the payment is made by the customer the journal entry is:
    Debit Cash
    Credit Accounts Receivable
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