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    sim_onil's Avatar
    sim_onil Posts: 2, Reputation: 1
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    #1

    Mar 14, 2009, 04:24 AM
    Accounting Entries for Down payment
    What is the accounting entries when a down payment from a contract is received?:cool:
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Mar 14, 2009, 04:50 AM

    DEBIT Bank Account
    CREDIT Sales Account

    Being a down payment from a contract .
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