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