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    Pegann3's Avatar
    Pegann3 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 1, 2007, 11:39 AM
    Journal entry
    Completed a five day project for a company and billed it 6500 which is the total price of 9000 less the advance payment of 2500. What are the journal entries?
    terryg752's Avatar
    terryg752 Posts: 197, Reputation: 4
    Junior Member
    		  
    #2

    Dec 1, 2007, 03:22 PM
    I am not sure but I think it will be like this:

    Accounts Receivables Debit 6500

    Sales Credit 9000

    Advances (Liability) Debit 2500
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