accounting

Notified by Alex's Engineering Co that Success's bid of $9000 on a proposed project has been accepted. Alex's paid a $2500 cash advance to success systems.

My question is how am i going to put or write this transaction on journal entry? Do i just ignore 9000 and write 2500 cash debit and revenue. or do i include 9000? thank you in advance

  1. 👍
  2. 👎
  3. 👁
  1. You also need to do an entry for the difference of 6500.

    1. 👍
    2. 👎
  2. do i record it in accounts receivable and revenue?

    1. 👍
    2. 👎
  3. debit accounts recievable for 9000
    credit sales revenue 9000

    debit cash 2500
    credit accounts recievable 2500

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. science

    1. Suppose a particular flood mitigation project has a benefit-cost ratio of 0.72, According to this ratio, is the project a success? a. Yes, because a ratio greater than 0.5 means a project is a success. b. Yes, because a ratio

  2. statistics

    In a class of 100 students, 30 are computer science majors, 49 are mechaincal engineering majors, 13 are civil engineers and the rest are general engineering majors. Assume students only have one major. If a student is chosen at

  3. language arts

    Which answer choice is the best example of a theme? A. success B. Hard work and determination can lead to success. C. Few athletes become professionally successful. D. success in the workplace

  4. math

    Mary needs​ $9000 in 11 years. What amount can she deposit in a sinking fund at the end of each quarter at 4​% interest compounded quarterly so she will have her​ $9000? Round to the nearest cent.

  1. Bus law

    Alex was on a coast-to-coast trip by automobile. While passing through Ohio, Alex had a flat tire. It was fixed by Sam’s Turnpike Service Station, and later, while Alex was driving in Indiana, the tire came off and Alex was

  2. math

    Critique Reasoning Alex decides that 21 divided by 3 = 7 is NOT a true equation. Is Alex correct? Explain

  3. English

    Rewrite the following paragraph so that all of the sentences are in the active voice. This year, the science fair was won by Alex Muros. His project explained why leaves change colors in the fall. Alex was given a prize by the

  4. help please

    16. Which of the following is used when a political activist reminds others of the trials and tribulations facing the nation if change does not occur? (1 point) ethos pathos logos 18. Identify the sentence that relies most

  1. math

    Alex practices playing the piano for 2 1/2 hours each week. If alex practiced for a total of 35 hours, which expression could

  2. Bus law

    Alex was on a coast-to-coast trip by automobile. While passing through Ohio, Alex had a flat tire. It was fixed by Sam’s Turnpike Service Station, and later, while Alex was driving in Indiana, the tire came off and Alex was

  3. Algebra 2

    Which probability matches the probability histogram? Assume that there are 2 trials. X = 2 where X represents the number of successes. . P(success)=0.3 P(success)=0.4 P(success)=0.6 P(success)=0.7

  4. Math - Business Stats. PLS HELP!

    help pls!!! thank u in advance, i appreciate it greatly Alex, Alicia, and Juan fill orders in a fast-food restaurant. Alex incorrectly fills 20% of the orders he takes. Alicia incorrectly fills 12% of the orders she takes. Juan

You can view more similar questions or ask a new question.