- credit repair service
- best buy credit card customer service
- debit credit machine
- credit debit card processing
I am just a bit lost as do what accounts to use for this transaction on July 25:
-Complete a special mowing job for a golf course. The total price for the mowing job is 8,500. The golf course pays 1,000 cash on this dade and will pay the remainder on Aug. 25.
I'm thinking that I would have two separate transactions. Would one be a debit to cash for 1,000 and a credit to service revenue for 1,000. And then another transaction with a debit to accounts receivable for 7,500 and a credit to service revenue for 7,500?
OR would I start with a debit to accounts receivable for 8,500 and a credit to service revenue for 8,500. And then on the same day have a debit to cash for 1,000 and then a credit to accounts receivable for 1,000?
-Complete a special mowing job for a golf course. The total price for the mowing job is 8,500. The golf course pays 1,000 cash on this dade and will pay the remainder on Aug. 25.
I'm thinking that I would have two separate transactions. Would one be a debit to cash for 1,000 and a credit to service revenue for 1,000. And then another transaction with a debit to accounts receivable for 7,500 and a credit to service revenue for 7,500?
OR would I start with a debit to accounts receivable for 8,500 and a credit to service revenue for 8,500. And then on the same day have a debit to cash for 1,000 and then a credit to accounts receivable for 1,000?
Financial accounting transaction help?
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