Question

Repair work was done for a customer 100 cash was recieved with the remaining 240 due in 25 days later in recording this transaction the accountant should____

Answer 1

The accountant should record the $100 cash received and the remaining $240 due in 25 days. Debit the cash account for $100 and credit the accounts receivable account for $340 ($100 cash + $240 due).

Step-by-step explanation:

When recording this transaction, the accountant should note the payment of $100 cash received and the remaining $240 due in 25 days.

This can be recorded in the accounts as a debit to the cash account for $100 and a credit to the accounts receivable account for $340 ($100 cash + $240 due). This ensures that the payment is properly documented and the remaining amount is accounted for.