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    myoffredo's Avatar
    myoffredo Posts: 5, Reputation: 1
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    #1

    Feb 5, 2012, 03:38 PM
    Journalizing
    How do I journalize service on credit for 210,300? Rented sables to customers for 20,5000 cash. And rented grounds to riders 41,800?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Feb 5, 2012, 03:45 PM
    Service on credit:
    Debit Accounts Receivable for the amount
    Credit Service Revenue for the amount

    Rentals:
    Debit Cash for the amount received
    Credit Accounts Receivable for the amount on credit
    Credit Rental Revenue for the amount of rentals
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