Sales & trade receivable accounts record $50,000. But now received amount $49,999 due to $1 charges us admin fee. How do record this transaction?

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
Incomplete Accounting Records
Posted by:
Ibtisam Haider Syed
20-November-2014

Accounts Receivable Sales Accounting and Finance

Question added by Zhi Xin Wee
Date Posted: 2017/06/28

Upvote (0) Views (3) Followers (1) Answers (1) Report Question

Write an Answer
Register now or log in to answer.

1 Answers

Ganesh Sivagnanam Sivagnanam

by Ganesh Sivagnanam Sivagnanam

cr trade receiveable a/c $50,000

dr admin fees $1

dr bank a/c 49,999

Downvote Reply () Report

Popular Searches

Sales Executive Jobs Engineers Jobs Engineering Technicians Jobs Accountant Jobs Driver Jobs

Write Your Answer

More Questions Like This

WHY trade discounts not recorded in the books of account?
Top Answer: Because trade discount is not an actual discount that granted by the seller or received by the purchaser. ... See More

Answers (3)
The costs of normal and abnormal spoilage are accounted in the accounting records, the costs associated with any abnormal spoilage are?
Top Answer: They are separately accounted for as losses of the period. See More

Answers (3)
What is to term used to describe the recording of a transaction in the accounting records using debits and credits?
Top Answer: An entry is used to describe the transactions See More

Answers (20)
Only goodwill recognized in the accounting records is purchased goodwill because?
Top Answer: Its value can be determined at the time of transaction. See More

Answers (6)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.