Journal Entry Question

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Sep 10th, 2015

Thank you for the opportunity to help you with your question!

Journal Entries In the books of Newton & Associates

Date        Particulars                                                           LF             Debit                   Credit

May   1   Income outstanding A/c          Dr.                                          800

                   To Clients A/c                                                                                                    800

              (Bills sent to clients for services given)


          9   Office furniture    A/c             Dr.                                        1,060

               Stationeries          A/c            Dr.                                            160

                     To  City office, Inc A/c                                                                                 1,220

               (Bought office furniture and office supplies on credit)


      15     City office, Inc A/c                  Dr.                                      1,220

                     To Cash A/c                                                                                                  1,220

             (Paid cash)



       23     Electricity Charges A/c        Dr.                                        430

                     To Cash  A/c                                                                                                  430

              (paid electricity bill)



      31    Salary A/c                                Dr.                                      850

                    To Cash A/c                                                                                                   850

                   (Paid salary to employees)


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

Could the entry for May 1 also be categorized (particular) as sales revenue so debit sales revenue of $800?  Or would this even be considered accounts receivable?  thank you very much!

Sep 10th, 2015

You can also consider  as Accounts Receivable A/c. Thanks. 

Sep 10th, 2015

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