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What needs to happen when recording a journal entry for a sale account?
When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.
What is the Journal entry for loss on sale of equipment?
[Debit] Loss on sale of equipment xxxx [Credit] Asset account xxxx
What journal entry do you use for a sale when a credit card is used?
Debit bankCredit sales revenue
Journal entry of sale return?
[Debit] Sales Return [Credit] Accounts receivable / Cash
How do you record journal entry of SALE land on credit?
debit accounts receivablecredit land account
What is the journal entry to record sale of donated assets?
[Debit] Cash / bank xxxx [Credit] Sale of donated asset xxxx
How do you record adjusting journal entry for credit sale?
Type your answer here... party a/c Dr. to sales
What is the Journal entry for sale on credit with VAT?
debit Accounts receivablecredit sales revenueCredit VAT payable
What need to happen when recording a journal entry for a sale on account?
What needs to happen when recording a Journal Entry for a sale on account
How do you record a journal entry for a sale of a building?
Debit cash / bank xxxx credit building account xxxx
How do you post a journal entry for sale of a vehicle with depreciation?
debit cash / bankdebit accumulated depreciationdebit loss on sale (if any)credit assetcredit profit on sale (if any)
What is the journal entry to record sale of obsolete inventory?
Debit cash / bankdebit loss (if any)Credit inventory account
