0
Does The return of merchandise by a customer whether they are given credit or cash in return increase o reduce?
Wiki User
∙ 8y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How do you ask for a credit increase on your new credit card?
Contact the customer service department of the card issuer. They will ask a few questions, for example, if your source of income has increased since you originally opened the account. They may also look at the person's credit-debt-income ratio and perhaps their complete credit report. If your account is in good standing it's possible they will waive all these options and increase your credit line. Any action concerning the account could be noted on the person's credit report whether or not the increase is granted.
What are the objectives of credit rating?
A credit rating is designed to show an potential lender whether a customer is a good risk. This helps lenders know who is credit worthy by the number associated with their rating.
Can you charge the credit card percentage to a customer?
Whether or not you can charge the credit card percentage to a customer depends on a number of issues. First does your agreement with the card company allow it. Second does the law allow it. And, how difficult would it be for you and the operation of your business. Can your cash register calculate the amount automatically?
Is a credit card customer paid interest for a credit balance?
No.
How do you increase credit limit on your credit card?
Contact your Credit Card company and ask Usally it can increase with better credit or higher income
How are refunds commonly returned to customers?
Refunds are commonly returned to customers in the same method that the customer paid for the merchandise. If one paid with a credit card, then a credit is added to the credit card. If a customer does not have a receipt, the refund is usually issued as a store credit.
What is the definition of credit invoice?
A credit invoice is the same as a credit memo. It is documentation that shows credit to a customer ie merchandise return. http://kramer-smilko.com/manuals/chap11/chp11-8.htm
What is the Journal entry for a customer returning merchandise delivered in poor condition?
[Debit] Sales returns [Credit] Accounts receivable
How do you ask for a credit increase on your new credit card?
Contact the customer service department of the card issuer. They will ask a few questions, for example, if your source of income has increased since you originally opened the account. They may also look at the person's credit-debt-income ratio and perhaps their complete credit report. If your account is in good standing it's possible they will waive all these options and increase your credit line. Any action concerning the account could be noted on the person's credit report whether or not the increase is granted.
Who gives merchandise credit with bad credit?
fingerhut
When a customer returns merchandise purchased on credit the retailer debits?
1. Debits Sales Returns, credits Cash 2. Debits Inventory, credits COGS
Is refund to customer debit or credit?
Credit to the customer.
What account is debited when a company returns merchandise to a vendor on credit?
credit
Whether increase in liability credit or debit?
All liabilities are credited and assets are debited so increase in liability will be credited and not debited.
What are the objectives of credit rating?
A credit rating is designed to show an potential lender whether a customer is a good risk. This helps lenders know who is credit worthy by the number associated with their rating.
What is the difference between a Debit and a Credit as it relates to Accounts Receivable?
Accounts Receivable is an account that holds what a person or company owes your business. For example you sold a computer to a customer on credit, this credit is listed in an Accounts Receivable and is an asset.Asset accounts maintain a Debit Balance, meaning that a debit to the account will increase the account (in other words increase the amount the customer owes the company).A credit to the account will decrease the balance of that account (in other words, it records payment or credit to that customers account and decreases the amount the customer owes the company).
Is merchandise inventory is a credit or debit?
debit
