[Debit] Sales Promotion expenses xxxx
[Credit] Cash / bank / goods etc xxxx
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
Examples of books of original entry are the sales day book, the purchases day book, the sales returns book, the purchases day book, the journal, and the cash book. These are books used in accounting.
expense
The accounting entry for sales return under warranty is the accrued warranty liability. This entry is written under warranty expense.
debit cashcredit sales revenue
When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.
Buyer a/c dr. To Sales a/c. The GAAP shows such an entry as: Account Receivable (debit) $$$ Sales (Revenue) (credit) $$$ This is based on Double-Entry Accounting as standardized by the GAAP. For example, say you sold a computer to a customer on credit for $1500, the journal entry would read AR (debit) $1500 Revenue (credit) $1500 Some companies use the term Sales, Revenue, and even Income. Which generally refer to the same thing.
Sales(debit) and income summary (credit)
Debit cash / bankCredit sales revenue
Debit accounts receivableCredit sales revenue
Cash a/c Dr. To Sales a/c
Debit accounts receivable / bank / cashCredit sales revenue