0
A sales return for credit on account would be recorded in what type of journal?
Wiki User
∙ 13y ago
General Journal
Sales Returns and Allowances - A company with sales returns and allowances can record them in the General Journal.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
In which journal is the return of supplies purchased on account recorded?
General Journal
What is the journal entry for sales return?
[Debit] Sales Return account [Credit] Cash account
What is the journal entry for goods return?
If sales goods returned: [Debit] Sales account xxxx [Credit] Sales Return account xxxx if purchase goods returned: [Debit] Purchase return xxxx [Credit] Purchases account xxxx
How should a return of merchandise purchased on account be recorded?
As a debit to the accounts payable account and a credit to the purchases returns and allowances account
What will be the journal entry if a bank loan is return?
[Debit] Bank Loan account xxxx [credit] Cash / bank xxxx
What is journal entry to record return of supplies on account?
debit accounts payablecredit supplies return account
What is journal entry for sales return?
[Debit] sales return [credit] cash / bank
What account is affected in an account journal when you return office supplies that was bought on account?
Say I purchsed $500 in Office Supplies on account, I return the office supplies, since I purchased them on account, the company I purchased them from will extend me a credit to my account decreasing the balance I owe them by the said amount. My books will record....Account Payable (debit)Office Supplies (credit)I debit my Account Payable to show that I no longer owe that amount and I credit my Office Supplies to show that I no longer have that amount of supplies on hand.
Journal entry of sale return?
[Debit] Sales Return [Credit] Accounts receivable / Cash
What is the journal entry for purchase returns?
[Debit] Purchase Return [Credit] Purchases
How do you account cash sales return?
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
What is a sales returns journal?
Sales returns journal records all sales return transactions only and no other transaction of business is recorded.
