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hram777 [196]
2 years ago
7

At the end of the previous year, a customer owed Days Company $400. On February 1 of the current year, the customer paid $600 to

tal, which included the $400 owed plus $200 owed through February 1st. The journal entry on February 1 is
Business
1 answer:
PSYCHO15rus [73]2 years ago
3 0

The journal entry on February 1 for Days Company is as follows:

<h3>Journal Entry:</h3>

February 1:

Debit Cash $600

Credit Accounts Receivable $600

  • To record the receipt of payment on account.

<h3>Transaction Analysis:</h3>

February 1: Cash $600 Accounts Receivable $600

Thus, the journal entry on February 1 will increase Cash by $600 and reduce Accounts Receivable by $600.

Learn more about making journal entries at brainly.com/question/14279491

#SPJ1

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