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Inventory

This topic has 3 replies, 2 voices, and was last updated 4 years ago by Ken Garrett.

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October 3, 2018 at 1:45 pm #476225
smartiecwele
Member
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How to record a journal entry if the agent pays us cash one moth later
October 4, 2018 at 4:53 am #476307
Ken Garrett
Keymaster
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One month later than what?
October 4, 2018 at 9:08 am #476334
smartiecwele
Member
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If the agent was suppose to make a transfer last month but he only did it on the beginning of this month
October 4, 2018 at 4:41 pm #476407
Ken Garrett
Keymaster
- Topics: 10
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Presumably therefore the agent was recorded as a receivable at the end of last month (otherwise how would we know we were due the money?). When teh cash is received it would be:
Dr Cash
Cr Agent in receivables ledger.
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