Ask Experts Questions for FREE Help !
Ask
    albert1989's Avatar
    albert1989 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 18, 2008, 08:42 AM
    Posting transaction into entry
    How do you record this transaction?
    Made cash of 29 cameras for a list of $1430 each. A trade discount of 20% applies.
    *ignore the cost of sales
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 15, 2008, 03:37 PM

    Debit Cash 33,176
    Credit Sales Revenue 33,176
    (1,430*80%*29)
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Posting a adjusting journal entry [ 1 Answers ]

How would you post a journal entry when you received the cash in advance for a service to be done in the middle of the month but don't complete the services by the last day of the month? Would you have to do anything? Or would you just wait until the work is done to enter it?

Journal entry to record in transaction [ 3 Answers ]

July 9th Office Supply Corp delivers furniture ($1,060) and expendable office supplies ($160) to Random Leaving an invoice for $1220. The journal entry to record the July 9th transaction will include a credit of $1,220 to what account?? I’m pretty sure that it’s Accounts...

Posting another transaction on a general ledger sheet [ 1 Answers ]

Thank you Captain Forest for helping me out now I have two more problems. The transaction is Paid magic's restaurant on account $ 25,700.00. Should it be food expense $25,700.00 on the debit side and accounts payable $ 25,700.00 on the credit or accounts Payable $25,700. 00 on the debit side and...

View more questions Search