Monday, April 19, 2010

Open Question: Accounting double entry equation?

where do invoices go in the double entry system. example: Invoiced A. banana for kitchen renovation $2930.00 (invoice 228833) Does it go under Asset and Liability? Also when someone pays there invoice Recieved 1652.00 from debtor L. Shaker (receipt 765) Does that go under asset and revenue. If you could tell me if these are in the right place or where they are supposed to go that would be a big help. Thanks :)

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