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debit a/r credit cash
[Debit] cash / bank [credit] accounts receivable
[Debit] cash / bank [credit] accounts receivable
debit revenue and credit receibables
(Debit) Cash xxxx (Credit) Accounts receivable xxxx
debit a/r credit cash
debit revenue and credit receibables
[Debit] cash / bank [credit] accounts receivable
[Debit] cash / bank [credit] accounts receivable
debit revenue and credit receibables
(Debit) Cash xxxx (Credit) Accounts receivable xxxx
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
A payment on account by a customer happens when a customer pays a bill. For example, if a person had an account at a furniture store, each month, he or she would make a payment on their account to pay down their balance.
Debit cash / bankCredit accounts receivable
When a customer pays their account, the account receivable department needs to put the amount of the payment into the computer. A receipt should also be sent to the customer.
When a customer pays on an account it needs to be documented immediately and if paying in person a receipt of payments needs to be given to the person who is paying.
issue a receipt