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Cash (debit) 2045
Design Revenue (credit) 2045
It's pretty much a straight forward entry. You received cash so you debit it, since revenue has a credit balance you credit the same amount to Revenue, check with your company, the account name may vary slightly, but very little. Income, Revenue, etc. It will go to that, never to anything called "net" or "gross" as these accounts are used to figure Retained Earnings which is a Statement of Income and a Retained Earnings statement account.
What else can I help you with?
Journal entry for income received in advance?
Debit customer depositsCredit unearned revenue
How do you enter billing a credit customer in journal entry?
debit accounts receivableCredit sales revenue
When a product or service is delivered for which a customer advance has been previously received what is the appropriate journal entry?
[Debit] Unearned revenue [Credit] Sales revenue
How do you post a journal entry to an account to bill a customer for service preformed?
Debit accounts receivableCredit services revenue
Is posting from a revenue journal to the customer account normally only done at the end of the month?
no it is done on a regular basis
What is journal entry of outstanding income?
Outstanding income a/c CR to Customer a/c Dr
What is the journal entry for prepaid revenue?
prepaid revenue is debited and revenue is credited
Journal entry for returned goods by customer?
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return
What is journal entry for Accrued Revenue?
Accrued Revenue is a term that I rarely see, though it is an Asset and should be treated as such. Accrued Revenue would be treated similar to an Account Receivable. The Journal Entry would be a Debit to Accrued Revenue and a Credit to Revenue.
What is the journal entry for provided service on credit?
When services are provided on credit, the journal entry typically involves debiting Accounts Receivable and crediting Service Revenue. For example, if a service worth $1,000 is provided on credit, the entry would be: Debit Accounts Receivable $1,000 Credit Service Revenue $1,000 This reflects the increase in revenue earned and the corresponding amount owed by the customer.
What could be journal entries for unearned revenue?
Initial receipt of unearned revenue from a customer for service to be provided in the future. Recognition of the unearned revenue as the service is performed and earned. Adjustment entry to reflect the portion of unearned revenue that has now been earned.
What is the journal entry for deferred revenue?
As it is a advance receipt the journal entry would be cash dr. to deferred revenue
