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when the goods are sold , then the cost of goods sold is recorded at the credit side of the purchase ledger
credit
Cost of goods sold is the total cost incurred for goods manufacturing while cost of goods sold statement is the document which shows the calculation of cost of goods sold.
Sundry debtors means the debtor to whom goods are sold on credit for various reason not merely goods sell on credit.
[Debit] Cost of goods sold [Credit] Over-applied overhead
when the goods are sold , then the cost of goods sold is recorded at the credit side of the purchase ledger
credit
goods that were sold on credit returned
Yes
Cost of goods sold is the total cost incurred for goods manufacturing while cost of goods sold statement is the document which shows the calculation of cost of goods sold.
Sundry debtors means the debtor to whom goods are sold on credit for various reason not merely goods sell on credit.
[Debit] Cost of goods sold [Credit] Over-applied overhead
dr cash and cr purchases
[Debit] A account xxxx [Credit] Sales revenue xxxx
Credit sale is a sales transaction by which the buyer is allowed to take immediate possession of the purchased goods and pay for them at a later date.
Trade receivable is that amount which is receivable from customers to whom company sold goods on credit while credits are those from whom company purchased goods on credit.
cost of goods sold has a natural debit or credit balance