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When a buyer returns merchandise purchased for cash the buyer may record the transaction using the following entry?
debit cash; credit merchandise inventory
Is inventory a credit or debit?
Inventory is an asset, and so it is a debit to increase, and a credit to decrease.
Normal balance for merchandise inventory?
debit
Is inventory a Debit or Credit account?
DEBIT
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
When a buyer returns merchandise purchased for cash the buyer may record the transaction using the following entry?
debit cash; credit merchandise inventory
Is inventory a credit or debit?
Inventory is an asset, and so it is a debit to increase, and a credit to decrease.
Is Spare parts Inventory debit or credit?
If the inventory is fiananced it is debit... If you own it is credit...
Normal balance for merchandise inventory?
debit
Is inventory a Debit or Credit account?
DEBIT
Does inventory have a debit or credit balance?
Debit
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
Is Ending Inventory a debit or credit?
credit
Does inventory have a credit or debit balance account?
Debit
What is the Normal balance of cost of merchandise sold?
The normal balance of Cost of Merchandise Sold (COMS) is a debit balance. This is because COMS represents an expense associated with the goods that a company sells, and expenses typically carry a debit balance in accounting. When merchandise is sold, the cost is recorded as a debit to COMS and a credit to inventory.
Does inventory carry a debit or credit balance?
debit buddy
Is open inventory a debit or credit?
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.
