A customer's invoice totals $12,050. They have 11,650 in prepaid money, which leaves a $400 balance due. I deducted the $11,650 on the invoice to show this new balance. I then created a journal entry for this amount. Did I do this correctly?
Also, where do I find a list of money that currently sits in our prepaid account, so that I can compare it to my manual spreadsheet?
Thanks!
