Posted On: 02/16/2016 10:37:42 PM
Post# of 96891
Winston, the correct accounting for a sale where cash has not been rec'd. is:
Debit Accts. Rec.
Credit Revenue (Sales)
When cash is collected entry is:
Debit Cash
Credit Accts. Rec.
Sorry, don't know what "Official Revenue" (??) is but who am I, just a pencil pushing CPA.
Debit Accts. Rec.
Credit Revenue (Sales)
When cash is collected entry is:
Debit Cash
Credit Accts. Rec.
Sorry, don't know what "Official Revenue" (??) is but who am I, just a pencil pushing CPA.
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