Sales has credit balance as default balance so it means only credit can increase the sales and that;s why all debit reduces the sales because it is reverse of credit balance.
Any sales on account (aka credit sales) will increase accounts receivable by the same amount. The journal entry for this would be: Account Receivable (debit) Sales (revenue) (credit)
Debit: Purchases Credit: Accounts Payable Debit: Cash Credit: Sales
sales generally have credit balance .debit balance of sales would mean that a firm is incurring loss on sales
Debit Cash Credit Sales
Debit cash / bankCredit sales revenue
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
Any sales on account (aka credit sales) will increase accounts receivable by the same amount. The journal entry for this would be: Account Receivable (debit) Sales (revenue) (credit)
Debit: Purchases Credit: Accounts Payable Debit: Cash Credit: Sales
sales generally have credit balance .debit balance of sales would mean that a firm is incurring loss on sales
Debit Cash Credit Sales
Debit cash / bankCredit sales revenue
You increase an asset accounts with a debit.
Sales discount is subtracted from gross sales in arriving at net sales. It is a contra revenue account, so it is ALWAYS debit.
debit
Opening inventory Debit Cost of Sales Credit Inventory - balance sheet Closing inventory Debit Inventory - balance sheet Credit Cost of Sales An opening inventory is a debit as it is an increase is expenses as the opening inventory is expected to be sold in the coming accounting period. and any thing that is spent to provide goods or services to a customer is an expense.
Debit accounts receivable / cashCredit food sales revenue
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return