creditors journal
Debit: Sales Returns & Allowances Credit: Accounts Receivable :)
Debit expensesCredit sundry creditors
Purchases A/c -Dr 5000 To Sundry Creditors 5000
is a book of first entry in which credit sales invoices are recorded
what is the reason businesses record into creditors allowances journal
creditors journal
General Journal Sales Returns and Allowances - A company with sales returns and allowances can record them in the General Journal.
Debit expensesCredit sundry creditors
Debit: Sales Returns & Allowances Credit: Accounts Receivable :)
Purchases A/c -Dr 5000 To Sundry Creditors 5000
is a book of first entry in which credit sales invoices are recorded
Sundry creditors a/c dr to proprietors personal a/c cr
[Debit] Allowance for debtors account [Credit] Accounts receivable account
Are the payment for cash(people who came and buy for cash ) Any entry can be posted into the general journal. It is really messy and long to post the stuff in the sales, sales returns and allowances, purchases and purchases returns and allowances jounal into the general jounal so those journals are created to make things easier. So basically, any entries that are posted to the cash payments journal can be posted to the general journal.
debit accounts payablecredit bank account
[Debit] Purchases[Credit] Accounts payable