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In a sales journal used to record taxable sales What would the total of the accounts receivable equal?
In a sales journal used to record taxable sales, the total of the accounts receivable would equal the sum of all credit sales recorded during the period. This amount reflects the total sales made on credit that have not yet been collected in cash. It is important to note that taxable sales, whether made in cash or on credit, contribute to this total, but only the credit sales impact accounts receivable.
What source document is ed to record credit sales?
Duplicate copy of tax invoice
What journal entry to record sale of inventory?
Debit Cash / bank / accounts receivable xxxx Credit Sales revenue xxxx
What is journal entry to record the completion of a service for which payment has not been received?
[Debit] Accounts receivable [Credit] Service sales revenue
Does cash sales and credit sales equal net sales?
yes they do but if the cash sales and credit sales ar the same number they equal subsales
In a sales journal used to record taxable sales What would the total of the accounts receivable equal?
In a sales journal used to record taxable sales, the total of the accounts receivable would equal the sum of all credit sales recorded during the period. This amount reflects the total sales made on credit that have not yet been collected in cash. It is important to note that taxable sales, whether made in cash or on credit, contribute to this total, but only the credit sales impact accounts receivable.
How do you record Accounts Receiveable?
[Debit] Accounts receivable xxxx [Credit] Sales revenue xxxx
What is the purpose sales day book?
Sales day book is used to record the daily credit sales. in a sales day book we just write the date, customer name, invoice no and amount. its a very primary book to write the credit sales. it can be used as a reference when preparing the sales accounts of individual customers
A sales return for credit on account would be recorded in what type of journal?
General Journal Sales Returns and Allowances - A company with sales returns and allowances can record them in the General Journal.
What source document is ed to record credit sales?
Duplicate copy of tax invoice
How do you record adjusting journal entry for credit sale?
Type your answer here... party a/c Dr. to sales
What is the importance of credit sales?
Credit Sales increases the amount of sales and sales volume.
How do you properly record a sales journal entry?
To properly record a sales journal entry, you need to debit the accounts receivable or cash account for the amount of the sale, and credit the sales revenue account. This reflects the increase in assets or cash from the sale, and the revenue earned from the transaction.
What journal entry to record sale of inventory?
Debit Cash / bank / accounts receivable xxxx Credit Sales revenue xxxx
What is journal entry to record the completion of a service for which payment has not been received?
[Debit] Accounts receivable [Credit] Service sales revenue
Is a sales agreement binding if your wife puts your name on the credit application but you never signed it?
Absolutely, positively, not. Find out what car dealers don't want you to know at www.dealertricks.com Sales agreements are not binding to any party however sales contracts are. You are not legally bound if you did not sign the sales contract. Consequently you may have a credit inquiry on your record that you did not request.
Does cash sales and credit sales equal net sales?
yes they do but if the cash sales and credit sales ar the same number they equal subsales
