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Why are cash sales not recorded in the sales ledger control account?
a ledger account if made for credit sales.
Is the amount of sales tax collected on sales is recorded in the Sales Tax Revenue account?
combind revenue accounts
What transaction are recorded in a sales day book?
In Sales day book all transactions related only to sales are recorded in it and no other transactions is recorded.
What is a sales account?
A sales account is the account that actually records a company's profits. The account is normally taken after all employees are paid and all company expenses are doled out.
What is the difference between sales account and sales ledger?
sales account is the account which contain all the information about sales transaction. it is prepared from journal entries. it shows the balance of the sales account while it is debit or credit. account sales is a statement. it is send by the consignee to the consignor. it contains detail about total sale, price, expenses incurred and the commission earned.
Why are cash sales not recorded in the sales ledger control account?
a ledger account if made for credit sales.
Is the amount of sales tax collected on sales is recorded in the Sales Tax Revenue account?
combind revenue accounts
What transaction are recorded in a sales day book?
In Sales day book all transactions related only to sales are recorded in it and no other transactions is recorded.
What is a sales account?
A sales account is the account that actually records a company's profits. The account is normally taken after all employees are paid and all company expenses are doled out.
A sales return for credit on account would be recorded in what type of journal?
General Journal Sales Returns and Allowances - A company with sales returns and allowances can record them in the General Journal.
What is the difference between sales account and sales ledger?
sales account is the account which contain all the information about sales transaction. it is prepared from journal entries. it shows the balance of the sales account while it is debit or credit. account sales is a statement. it is send by the consignee to the consignor. it contains detail about total sale, price, expenses incurred and the commission earned.
What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
What is a sales returns journal?
Sales returns journal records all sales return transactions only and no other transaction of business is recorded.
Is sales a perment account?
No, Sales is not permanent account as sales are closed to profit and loss account at the end of fiscal year.
What is the difference between sales account and account sales?
when revenue is earned from charge-account sales, the accountant debits __________ and credits___________
Why some authors says that sales are nominal account?
no sales is not a nominal account. because nominal account says" debit all expenses and credit all income and gain account. " all things which are tangible is call real account. u can touch the goods..Land and Buildings; and Office Machinery A nominal account is account for income and expenses e.g Rent and rates account or subscription account.
What type of account is a sales discount?
A sales discount account is a contra-revenue account.
