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

    Sep 28, 2008, 04:57 AM
    Journal entries: Sales service 100 of which 20 was on cridit
    Hello everyone it is nice to see a community like this where everyone can learn, thank you askmehelpdesk.com and all of it people for this great and wonderful site:).

    I was having problem answering this part of the question,

    It say to do a journal entries for: Sales of Service 100 of which 20 was on credit.
    My Answer and thoughts
    I think it needs two separate journals entries but I am not sure. Here is what I come up: with

    A) Title of account Deb Cre
    Cash 80
    Service Revenue 80

    B) Account Receivable 20
    Service Revenue 20

    I am not sure of this work please help if you can and if you have another better way please post it
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 15, 2008, 03:10 PM

    Actually you can combine it into one compound Journal Entry.

    Debit Cash 80
    Debit Accounts Reveivable 20
    Credit Service Revenue 100
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