If we have a revenue of $16000, of which $1200 was on "credit" then we simply need to figure the amount of "cash" we received and then record the transaction to the Journal.$16000 (revenue) - $1200 (credit) = $14800 (cash)Cash (debit) $14800Account Receivable (debit) $1200Revenue (credit) $16000In double-entry accounting credits must equal debits.
Oh, dude, you're hitting me with some math right now? Okay, so to find what times 5 percent equals 16000, you just divide 16000 by 0.05. That gives you 320,000. So, 320,000 times 5 percent equals 16000. Easy peasy, right?
8000 x 2 = 16000
32 x 500 = 16000
40 x 400 = 16000
120 times 10 is 1200.
8 times 1200 = 9600
16800
2.15% of 16000 = 2.15% * 16000 = 0.0215 * 16000 = 344
1200 * 60 = 72,000
The product is: 1,440,000
1200