0
debit sales account
credit sales return account
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
What is the journal entry for sales returns and allowances?
Debit: Sales Returns & Allowances Credit: Accounts Receivable :)
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
Journal entry for returned goods by customer?
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return
What is the Journal entry for a customer returning merchandise delivered in poor condition?
[Debit] Sales returns [Credit] Accounts receivable
What is a sales returns journal?
Sales returns journal records all sales return transactions only and no other transaction of business is recorded.
What is the journal entry for sales returns and allowances?
Debit: Sales Returns & Allowances Credit: Accounts Receivable :)
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
Journal entry for returned goods by customer?
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return
What is the Journal entry for a customer returning merchandise delivered in poor condition?
[Debit] Sales returns [Credit] Accounts receivable
What is a sales returns journal?
Sales returns journal records all sales return transactions only and no other transaction of business is recorded.
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.
When using Journal Entries for Refund Debit AR credit Sales What is the account that the check would offset?
When goods refund:[Debit] Sales returns[Credit] accounts receivable / cashAdjusting entry:[Debit] sales revenue[Credit] Sales returns
What are examples of books of original entry?
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.
WHAT IS THE JOURNAL ENTRY FOR SALES DISCOUNTS?
expense
What is the journal entry for cash sales?
debit cashcredit sales revenue
What is a sales returns day book?
Sales returns day book only record the sales returns in any day and no other entry is recorded in it.
What needs to happen when recording a journal entry for a sale account?
When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.
