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What is the journal entry for credit sales with discount?
Debit accounts receivableCredit sales revenue
What is the journal entry for credit sales with a discount?
Debit accounts receivableCredit sales revenue
Journal entry for Credit sales with Discount?
Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c
What is the Journal entry for CASH sales with discounts?
cash a/c.......dr amt(after discount) to sales a/c amt(after discount)
Journal entry for credit sale with discount and tax?
debit accounts receivablecredit sales tax payablecredit sales discountcredit sales revenue
What is the journal entry for Sales Discount in quickbooks?
i just figured it out. So, I'll help you. Literrally, but had my search results up. Dr. Cash Dr. Sales Discount Cr. Tax Payable Cr. Sales Revenue Dr. = Cr.
What is the Journal entry for discount allowed?
The journal entry for discount allowed typically involves debiting the Discount Allowed account and crediting the Accounts Receivable or Sales account. For example, if a business allows a $100 discount on a sale, the entry would be: Debit: Discount Allowed $100 Credit: Accounts Receivable or Sales $100 This reflects the reduction in revenue due to the discount offered to the customer.
What is the Jornal entry for sales on discount?
Bismillah.. So lets assume that a product was sold for $300 with discount condition (2/10, n/30). FOr Seller Journal Entry would be: Dr A/R 350 Cr Sales 350 If the payment is made in time (within 10 days) then for seller the journal entry is as follow: Dr Cash 344 Dr Sales Discount 6 Cr A/R 350
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
If you have a discount-- does sales tax come after or before discount?
I think the discount comes first and then the sales tax.
How do you show sales discount in financial statements?
Sales discount is shown under income statement as a deduction from sales because it reduces the actual sales figure.
Does the sales discount increase an operting expense account?
Sales discount is a reduction of actual sales. It is not an expense rather it is the reduction is selling price which reduces the sales.
