How to account for Money Received- 2 different situations
I'm completely new to book-keeping so thank you in advance and sorry if these are stupid questions-
1) If I paid for advertising for my company, and someone paid me for their portion, which I had already paid for, how would you show that?
2) If I receive payment for a project, that's split 50/50 how would I show that in accounting? I've already paid my half and am receiving the other half to pay the item off.