Question
How do I journalize this on my manual form?
Sold DJ service on account to JJ's Dance Club, $500.00. S2.
Homework
Sold DJ service on account to JJ's Dance Club, $500.00. S2.
Homework
Answers
Big Kahuna
You should:
*debit your accounts receivable for $500
*credit the appropriate revenue account for $500 (revenue accounts lie in the stockholder's equity portion of the balance sheet and makes up the net income)
*debit your accounts receivable for $500
*credit the appropriate revenue account for $500 (revenue accounts lie in the stockholder's equity portion of the balance sheet and makes up the net income)