0
If an account has been charged for a transaction but the merchandise has since been returned within how many days of receipt of the bill should a credit be received?
Wiki User
∙ 14y ago
45
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
When merchandise is returned under the perpetual inventory system the buyer would credit a. Accounts Payable b. Merchandise Inventory c. Purchases Returns and Allowances...?
The Buyer would likely perform the following transaction: DR- Account Receivable CR - Merchandise Inventory The Buyer would probably debit CASH if they receive CASH from the Seller instead of having to WAIT on it. The Merchandise Seller would perform the following transaction: DR - Merchandise Inventory CR - Accounts Payable, OR CASH
What is Inward GIRO Return?
An interbank fund transfer transaction amount may be returned by the beneficiary bank if the beneficary account number is an invalid account.
A dispute may result from incorrect charges the vendor refusing to replace a poor quality item or a transaction charged to your account when you have documented evidence that the merchandise has since?
true
What is the correct drill-down hierarchy for account lists and transaction lists?
Management account, cardholder account, transaction list
How do you record a check received on a balance sheet?
A check received doesn't actually go on the "balance sheet" but instead is debited to the cash account. When receiving a check, debit cash and credit the appropriate account for the transaction.
What is the correct drilled hierarchy for account lists and transaction lists?
Managing account to card account to transaction list
What type of account is Merchandise Inventory?
Merchandise Inventory is an asset account that shows up on the balance sheet.
What type of account can be a transaction account?
A checking account
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
What is the correct drill-down hierarchy for account lists and transaction list?
Management account, cardholder account, transaction list
What is the correct drill-down hierarchy for account list and transaction lists?
Management account, cardholder account, transaction list
What is the correct drill down hierarchy for account list and transaction lists?
Management account, cardholder account, transaction list
