Accounts Receivable Question

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Trails End Vacations has a $2,200 account receivable from the Sun City Kiwanis. On March 11, the Kiwanis makes a partial payment of $1,050 to Trails End. The journal entry made on March 11 by Trails End to record this transaction includes:
Choose one answer.
a. A debit to the Cash account of $1,150
b. A debit to the Accounts Receivable account of $1,150
c. A credit to the Service Revenue account of $1,050
d. A credit to the Accounts Receivable account of $1,050

Sep 10th, 2015

Thank you for the opportunity to help you with your question! IF you have any clarification, please don't hesitate to ask and I will do my best to answer.

ANSWER: d. A credit to the Accounts Receivable account of $1,050

Complete entry

Debit: Cash                             $1,050

Credit: Accounts receivable                    $1,050


Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 10th, 2015

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Sep 10th, 2015
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