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What is the journal entry to record a sale from inventory with a trade in?
Wiki User
∙ 15y ago
Sales
>>>Cash/Accounts Rec/NotesRec
Cost of Goods Sold
>>>Merchandise Inventory
Wiki User
∙ 15y ago
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How do you record journal entry to purchase goods with trade discount?
debit goods purchased (at trade discount amount)credit cash / bank / accounts payable
Using the allowance method what does the journal entries do?
The journal entry to record the adjustment to the AFDA is as follows: Debit Bad Debt Expense Credit AFDA To record a write-off: Debit AFDA Credit Trade A/R To record a recovery of a previously written-off transaction: Debit Trade A/R Credit AFDA Debit Cash Credit Trade A/R
What is accounts payable non trade?
Accounts payable non-trade is an entry that is made through a journal entry. Most accounts payable are trade and they are done through an accounts module that will automatically generate accounting entries.
How do you record trade discounts in the General Journal?
shyama/c........dr to purchases a/c
What is the journal entry for car trade in?
[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car
What is the journal entry for a cash purchase with discount?
Debit purchasesCredit cash / bankno entry for trade discount and in case of cash discount:Debit purchasesCredit cash / bankcredit discount
When was The Mining Journal - trade magazine - created?
The Mining Journal - trade magazine - was created in 1835.
Can you trade pets on yoville?
Yes but they must be in your inventory at the time of trade.
How frequent is Tea and Coffee Trade Journal published?
The Tea & Coffee Trade Journal is published on a monthly basis. The journal is published by Lockwood Publications, Inc. The entire journal can be read online at the Tea and Coffee website.
What is the journal entry for trading a vehicle for another vehicle?
Debit new assetdebit loss (if any)debit accumulated depreciationCredit cash / bankcredit profit (if any)credit old car trade-in
Journal entry to record sale of inventory?
Many variables are involved when determining the proper journal entries to record a sale. For example, consignment sales are recorded uniquely based on the terms of the consignment agreement between parties. Whether or not the sale is for a service or a good also presents differences in the way journal entries are recorded for a sale. If the sale is for a good, whether the company uses a perpetual or periodic system to account for inventory must also be taken into consideration when recording journal entries for a sale. Another variable that must be taken into consideration when recording a sale is whether or not the sale is on credit with terms that allow the purchaser the opportunity to purchase the good or service at discount if paid in timely fashion (trade receivable), and in addition, whether the company uses the net method or gross method when recording journal entries. Assuming the sales transaction is not made on consignment, is not a trade receivable, and no inventory is involved, the following are the journal entries to record the sale. If the sale was a cash transaction: DR cash CR a revenue account If the sale was a credit transaction: DR an accounts receivable CR a revenue account
What can you trade on habbo?
ANYTHING! This means anything in your inventory (My Stuff).
