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Merchandise with a sale price of 500 is sold on account with the terms 2 10 n 30 The journal entry to record the sale would include a?
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∙ 11y ago
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∙ 11y ago
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Can you record transactions in 2 journals Example Can sale of merchandise for cash be put in the cash receipts journal and the sales journal?
A sale of merchandise for cash would be: Debit cash or bank account, Credit sales
Merchandise is sold for cash The selling price of the merchandise is 3000 and the sale is subject to a 7 state sales tax The journal entry to record the sale would include?
A debit to Cash for $3,000.
In which special journal would a purchase of merchandise for cash be recorded?
A company that uses special journals should record a transaction involving the purchase of merchandise for cash ia a: Answer: Cash Payments Journal
What is the journal entry to record sale of merchandise?
Debit accounts receivable / cash / bankCredit sales revenue
How do you record depreciation in a journal entry?
[Debit] Depreciation Account [Credit] Assets Account
Can you record transactions in 2 journals Example Can sale of merchandise for cash be put in the cash receipts journal and the sales journal?
A sale of merchandise for cash would be: Debit cash or bank account, Credit sales
Merchandise is sold for cash The selling price of the merchandise is 3000 and the sale is subject to a 7 state sales tax The journal entry to record the sale would include?
A debit to Cash for $3,000.
In which special journal would a purchase of merchandise for cash be recorded?
A company that uses special journals should record a transaction involving the purchase of merchandise for cash ia a: Answer: Cash Payments Journal
What is the journal entry to record sale of merchandise?
Debit accounts receivable / cash / bankCredit sales revenue
How do you record depreciation in a journal entry?
[Debit] Depreciation Account [Credit] Assets Account
What journals do you use to record purchases on account purchases for cash and cash payments?
Purchases journal is used to record purchases on account while Cash payment journal is used to record purchases for cash and cash payments.
How do you record a journal entry for opening a cash account?
debit cash accountcredit bank account
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What are the journal entries a merchandising organization would use to record the purchase and subsequent sale of merchandise?
Merchandising, Recording Purchases of Merchandise, Recording Sales of Merchandise, Income Statement Presentation Operations, and Evaluating Profitability.
What is journal entry to record return of supplies on account?
debit accounts payablecredit supplies return account
What is the journal entry to record an accrued exp?
debit: expense account credit: account payable (vendor)
The entry to record the return of merchandise from a customer would include what?
debit to sales
