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    summit2010's Avatar
    summit2010 Posts: 1, Reputation: 1
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    #1

    Mar 29, 2012, 10:32 AM
    Rent was $1,200 and paid $400.00 would be a debit to my receivables?
    Rent was $1,200 and paid $400.00 would be a debit to my receivables?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Mar 29, 2012, 12:08 PM
    Your rent revenue was $1,200 and you received $400 so your customer owes you $800

    Your journal entry will look like this:
    Debit Cash for 400
    Debit Accounts Receivable for 800
    Credit Rent Revnue for 1,200
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