0
What else can I help you with?
What is the journal entry for sales return?
[Debit] Sales Return account [Credit] Cash account
Journal entry for sales return?
Cash Ac Dr to Sales AC To sales Return Alc
What is journal entry for sales return?
[Debit] sales return [credit] cash / bank
Is sales return an expense?
Sales return is reduction in sales as customer returns goods for any reason and it is not expense.
Why are cash sales not recorded in the sales ledger control account?
a ledger account if made for credit sales.
How do you calculate net credit sales?
Total sales - cash sales - sales return
What is account sales?
A sales account is an account used for cash and credit sales for a specific period of time. It can also be an account that brings money from outside into a firm.
What is the account classification for cash sales?
Revenue
What is entry for sales returns?
[Debit] sales return [credit] cash / bank
The cash receipts journal usually has special columns for the accounts that a business uses the most often in recording its cash receipts?
sales account sales 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
What kind of an account are sales return and allowances?
Sales Returns and Allowances is a contra income account.
