Want this question answered?
debit goods returnedcredit accounts receivable
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
"Purchase returns" is the entry made in the journal that refers to "Unsatisfactory or defective merchandise/goods which is returned back to the supplier".
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return
The journal entry is the accounting entry which lists the goods that are bought on credit.
debit goods returnedcredit accounts receivable
debit sales returnscredit cash / accounts receivable
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
"Purchase returns" is the entry made in the journal that refers to "Unsatisfactory or defective merchandise/goods which is returned back to the supplier".
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return
The journal entry is the accounting entry which lists the goods that are bought on credit.
Debit goods purchasesCredit cash / bank
debit goods / inventorycredit accounts payable
Debit goods receivedCredit accounts payable
i received goods but not invoice so i have not actually paid for my goods? help
Abnormal loss of goods a/c dr. To purchases a/c
L/C related all journal entries