I need to bill a client for a retainer of 50,000. Additionally, we owe them rent of 5,000. What are the journal entries to record the issuing of the invoice and what are the journal entries to record the payment of the invoice (they are only going to be paying me $45,000). I am billing them at the beginning of the month, they are going to pay at the end of the month.
- posted 6 years ago