USA Journal post

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I need help with a journal post for the following question;
Notified by Alex's Engineering Co. that Business Solutions's bid of $7,400 on a proposed project has been accepted. Alex’s paid a $1,600 cash advance to Business Solutions.
which accounts are effected?
 

DrStrangeLove

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That's part of a homework problem, isn't it? I recognize the business names; someone else has already asked about that question in the Exams and Studying forum.

Business Solutions has been given cash for future work. Has Business Solutions earned that cash yet? Do you have an account listed in the opening balances that would be a place to put it if it hasn't been earned yet?
 

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