It's a credit - if a company buys something - then returns it, they get credited with the money they have spent.
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
Debit the supplier Credit the Purchases Returns account
debit balance
Purchases are personal account nature and as a basic accounting rule debit what comes in and credit what goes out so purchases has debit balance as normal balance.
A purchase you make is a DEBIT against your account.
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
Debit the supplier Credit the Purchases Returns account
debit balance
Purchases are personal account nature and as a basic accounting rule debit what comes in and credit what goes out so purchases has debit balance as normal balance.
A purchase you make is a DEBIT against your account.
Purchases account is personal account in nature and basic rule for personal account is debt what comes in and credit what goes out so purchases is a debit balance as a default balance.
[Debit] Purchase Return [Credit] Purchases
Yes, and purchases are always debit.
[Debit] Purchases [credit] Cash (partial) [credit] accounts payable (balance)
Expense accounts should always be debit balances. The only exception is when you are recording discounts received on purchases in a separate account than the COGS account used for purchases. Discounts should be shown as a COGS account so that it is netted against purchases, and will have a credit balance. But even in this case, the total of all COGS accounts should be a debit balance.
A credit card is money loaned to you (credit) by the issuing bank or company. You may use it to pay for purchases up to the amount of your credit line. A debit card is based on your account balance and not on any loaned amount. You may use it to pay for purchases not in excess of your account balance.
Debit Purchases Credit Cash