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Sales discount is subtracted from gross sales in arriving at net sales. It is a contra revenue account, so it is ALWAYS debit.
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What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
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
Journal entry for Credit sales with Discount?
Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c
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
How you record a credit sales?
credit your stock for stocks going out of the account debit the debtors for stock going into his account
Is sales discount a debit or credit?
Credit
What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
How do you account cash sales return?
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
What is the journal entry for credit sales with discount?
Debit accounts receivableCredit sales revenue
What is the journal entry for credit sales with a discount?
Debit accounts receivableCredit sales revenue
What is the journal entry for sales return?
[Debit] Sales Return account [Credit] Cash account
How do you jourmalize sales on account?
[Debit] accounts receivable [Credit] Sales revenue
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
Journal entry for Credit sales with Discount?
Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c
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
How you record a credit sales?
credit your stock for stocks going out of the account debit the debtors for stock going into his account
What account would travelocity credit when you make a reservation with them?
1. Travelocity would credit their sales account and debit their cash account.
