0
Best Answer
Cost of sales
Wiki User
∙ 11y agoThis answer is:
Add your answer:
Earn +20 ptsQ: When a sale is made on account which account is credited?
Write your answer...
Submit
Still have questions?
Related questions
When goods are returned that relate to a prior cash sale?
The Cash account will be credited.
Is a savings account credited when a deposit is made?
Yes
What is a sale to an account receivable customer is made?
After a sale to an A/R Customer is made
When seller paid the customer account is?
credited
What account is credited when a debit card is used to pay cash on account?
It is your checking account , but it is debited, not credited.
What happens when money is deposited in account is it credited or debited?
deposited money is credited to your concern bank account
When the seller is paid the customer's account is credited or debited?
credited
When the seller is paid the customer account is debited or credited?
credited
When a customers account is paid the customers account is?
"credited".
What does credited 2 your account mean?
Added to your account.
What happens if you are going on holiday and you have a horse for sale on howrse?
nothing except someone might buy your horse and your account will be credited however much that player bid on that horse.
If a consumer returns a purchase from a retailer do you take that return from the gross sale or net sales?
The most appropriate way to account for a return is to have a 'returns account' (or negative sale if you will) to permit the retailer to see what percent of its sales are actually returned. Inventory should be credited accordingly, and the 'COGS' Cost of Goods Sold Account should also be reduced.
Copyright ©2024 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.