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    runkinfool2001's Avatar
    runkinfool2001 Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Mar 9, 2007, 06:07 AM
    Accounting Cash and account's receivable
    If merchandise is sold to one company and a balance is collected form another company do they both go under cash and account's receivable.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Mar 9, 2007, 12:59 PM
    So I sell TV's to Bob, but George pays me?

    I would:
    Dr. AR – George
    Cr. Sales

    When I get paid I would:
    Dr. Cash
    Cr. AR – George

    It would simply be Bob is the shipping address, but George is the billing address.
    runkinfool2001's Avatar
    runkinfool2001 Posts: 6, Reputation: 1
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    #3

    Mar 9, 2007, 07:35 PM
    Ok, thank you.
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