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    jira08's Avatar
    jira08 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jan 16, 2008, 05:59 PM
    Accounts receivable and Accrual Receivable
    When to record accounts receivable and accrual receivable. For example: the business has performed service to a customer (carpet cleaning) and a bill has issued to the customer. $100 Should we record
    Dr. Accrounts receivable 100
    Cr. Revenue 100
    Or

    Dr. Accrual revenue 100
    Cr. Revenue 100
    delite's Avatar
    delite Posts: 202, Reputation: 3
    Full Member
    		  
    #2

    Jan 18, 2008, 11:49 PM
    You will record the sale as a credit and a contra amount for acct's rec. when recievalbe are paid, debit cash;credit receivables.
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