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What is the source document for the debtors journal?
Credit note
What is a debtors' allowance journal?
Debtors may sometimes be unhappy with their purchases and wish to claim a refund (allowance) from the supplier. Some reasons for this include poor quality goods, wrong colour, wrong size, overcharges, errors on the invoice, and so forth. The debtor then sends a debit note (D/N) to the trader in which the claim is made in respect of the goods returned or overcharge claimed . After investigation the supplier, if in agreement with the claim, issues a credit note (C/N) to the customer. One copy is sent to the debtor and the other is the source document for the entry in the business's Debtors Allowances Journal (DAJ) The DAJ is like a sales returns and overcharges journal.
What is the source document for the cash payments journal?
Cheque
List the four parts of a journal entry?
The four parts of a journal entry are debit, credit, date and source document. Date refers to the date the transaction occurred. Debit is a subtraction and credit is an addition. The source document is the actual record of the transaction.
What is the four parts of a journal entry?
(1) date (2) debit (3) credit (4) source document
What is the source document for the debtors journal?
Credit note
Creditor Allowance Journal's source document?
what is the reason businesses record into creditors allowances journal
What is a debtors' allowance journal?
Debtors may sometimes be unhappy with their purchases and wish to claim a refund (allowance) from the supplier. Some reasons for this include poor quality goods, wrong colour, wrong size, overcharges, errors on the invoice, and so forth. The debtor then sends a debit note (D/N) to the trader in which the claim is made in respect of the goods returned or overcharge claimed . After investigation the supplier, if in agreement with the claim, issues a credit note (C/N) to the customer. One copy is sent to the debtor and the other is the source document for the entry in the business's Debtors Allowances Journal (DAJ) The DAJ is like a sales returns and overcharges journal.
What is sales credit notes?
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.
Are duplicate receipts used as the source document to record payments received from debtors?
No, duplicate receipts are not typically used as the source document to record payments received from debtors. The original receipt is usually the source document that is kept for record-keeping purposes. Duplicate receipts may be issued to the payee as a confirmation of the payment received.
Accouting transaction from a source document are recorde in a?
they are recorded in a general journal.
What is the source document for the cash payments journal?
Cheque
List the four parts of a journal entry?
The four parts of a journal entry are debit, credit, date and source document. Date refers to the date the transaction occurred. Debit is a subtraction and credit is an addition. The source document is the actual record of the transaction.
What is the four parts of a journal entry?
(1) date (2) debit (3) credit (4) source document
What historical document can be a primary source?
A diary, journal, or first-person description of an event written at the time it occurred.
What is the difference between trade debtors and sundry debtors?
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
What is the purpose of source document?
When a business transaction occurs then documents is called source document. Examples of source documents are: 1. cash receipt 2. cancelled check 3. Invoice sent or received 4. Employee Time sheet
