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Penny J.
Penny J.
Molendinar, QLD
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Hello. Could you give me the accounting entries when a client pays a deposit in a client deposit held account right through to when a sales invoice is done and the customer pays? I need to know all the debits and credits for this with the corresponding accounts. Thank you.

7 years ago

Responses

OK Penny

DR Client Deposit Bank Account
CR Prepayment

Getting the money into the Client Deposit Account

DR Receivables
CR Sales

Registering the sale

DR Prepayment
CR Debtors

Reducing the debtors because it was pre paid.

Hope that helps.

AJ

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