This topic contains 3 replies, has 2 voices, and was last updated by Ken Garrett 4 months, 2 weeks ago.
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This topic contains 3 replies, has 2 voices, and was last updated by Ken Garrett 4 months, 2 weeks ago.
How to record a journal entry if the agent pays us cash one moth later
If the agent was suppose to make a transfer last month but he only did it on the beginning of this month
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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