[debit] sales returns
credit cash / accounts receivable
It is a source document for journal entries to notify that a credit sales has taken plece, i.e sombody(debtors) owe money to the business in return for the goods.
It is impossible to remember the reason for every entry & the entries in the journal sometimes involve "out of the ordinary" transactions.
check
no journal entry required
Debit accounts payableCredit notes payable
[Debit] sales return [credit] cash / bank
[Debit] Sales Return account [Credit] Cash account
Cash Ac Dr to Sales AC To sales Return Alc
debit sales accountcredit sales return account
Debit sales returnCredit accounts receivable / cash / bank
[Debit] Sales Return [Credit] Accounts receivable / Cash
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
debit sales returnCredit cash / bank / accounts receivable
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales 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
expense
Journal entry for booking a sale:Accounts Receivable/Party [Debit] $value$Sales [Credit] $value$Tax on sales (GST. excise, etc.) [Credit] $value$Primarily, it is a reversal of the entry passed at the time of booking the sale:Sales [Debit] $value$Tax on sales [Debit] $value$(GST. excise, etc.)Accounts Receivable/Party [Credit] $value$