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What account is affected in an account journal when you return office supplies that was bought on account?
Wiki User
∙ 14y ago
Say I purchsed $500 in Office Supplies on account, I return the office supplies, since I purchased them on account, the company I purchased them from will extend me a credit to my account decreasing the balance I owe them by the said amount. My books will record....
Account Payable (debit)
Office Supplies (credit)
I debit my Account Payable to show that I no longer owe that amount and I credit my Office Supplies to show that I no longer have that amount of supplies on hand.
Wiki User
∙ 14y ago
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What account is affected in an account journal when you avail of purchase discount for office supplies that was bought on account?
Accounts payable and Cash accounts
Which journal does bought office supplies on account go to?
Purchases journal
What is journal entry for supplies bought on account?
Debit supplies inventoryCredit accounts payable
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
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Classroom supplies can be bought from Really Good Stuff, Staples, EduTopia, Office Depot, Office Supply Warehouse, Classroom Supply, Dollar Tree and Dollarama.
What account is affected in an account journal when you avail of purchase discount for office supplies that was bought on account?
Accounts payable and Cash accounts
Which journal does bought office supplies on account go to?
Purchases journal
What is journal entry for supplies bought on account?
Debit supplies inventoryCredit accounts payable
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miscellanous supplies
Where can teacher supplies be bought at?
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What is the journal entry for a cash purchase?
Debit Asset a/c if asset a/c is bought and credit Cash a/c OR if these are sundry supplies debit that head and credit cash acct
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Drawing A/c ------Dr 6000 To Bank A/c 6000
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Blank journal books can be bought from a number of stores and online retailers. One can buy them from Amazon, eBay, Walmart, Barnes & Noble and Paper Blanks.
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
How did colonial soldiers get their weapons and supplies?
They bought them :D
Where can parts and supplies be bought from?
Parts and supplies can usually be bought from individual retailers, who specialize or carry in the product you are trying to repair or modify. You can also find and purchase parts and supplies from online stores, such as amazon or ebay, where sellers can post individual parts or supplies that consumers can purchase.
What supplies were bought to make the boats?
Please be more specific.
