need help journalizing please

[kosal0818]

i have a project due and i cant seem to figure out how to journalize IOU's. please help if you can.



"accepted IOU's from customers on account, $1,800"
"

"received cash in payment of IOU's on account, $1,500"

 

[bklynboy]

Debit Accounts Receivable
Credit Sales

Debit Cash
Credit Accounts Receivable

 

[kosal0818]

How do I write the credit sales ?
I'm in accounting 1 and I'm journalizing

 

[Triest123]

i have a project due and i cant seem to figure out how to journalize IOU's. please help if you can.



"accepted IOU's from customers on account, $1,800"
"

"received cash in payment of IOU's on account, $1,500"

=> Dr IOU (loan) receivable $1,800
Cr Account receivable $1,800

Dr Cash $1,500
Cr IOU (loan) receivable $1,500