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What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
Journal entry for Credit sales with Discount?
Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c
When using Journal Entries for Refund Debit AR credit Sales What is the account that the check would offset?
When goods refund:[Debit] Sales returns[Credit] accounts receivable / cashAdjusting entry:[Debit] sales revenue[Credit] Sales returns
What is the journal entry for goods return?
If sales goods returned: [Debit] Sales account xxxx [Credit] Sales Return account xxxx if purchase goods returned: [Debit] Purchase return xxxx [Credit] Purchases account xxxx
How you record a credit sales?
credit your stock for stocks going out of the account debit the debtors for stock going into his account
Is sales discount a debit or credit?
Credit
What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
How do you account cash sales return?
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
What is the journal entry for credit sales with discount?
Debit accounts receivableCredit sales revenue
What is the journal entry for credit sales with a discount?
Debit accounts receivableCredit sales revenue
What is the journal entry for sales return?
[Debit] Sales Return account [Credit] Cash account
How do you jourmalize sales on account?
[Debit] accounts receivable [Credit] Sales revenue
Journal entry for Credit sales with Discount?
Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c
When using Journal Entries for Refund Debit AR credit Sales What is the account that the check would offset?
When goods refund:[Debit] Sales returns[Credit] accounts receivable / cashAdjusting entry:[Debit] sales revenue[Credit] Sales returns
What is the journal entry for goods return?
If sales goods returned: [Debit] Sales account xxxx [Credit] Sales Return account xxxx if purchase goods returned: [Debit] Purchase return xxxx [Credit] Purchases account xxxx
How you record a credit sales?
credit your stock for stocks going out of the account debit the debtors for stock going into his account
What is the Journal entry for discount allowed?
The journal entry for discount allowed typically involves debiting the Discount Allowed account and crediting the Accounts Receivable or Sales account. For example, if a business allows a $100 discount on a sale, the entry would be: Debit: Discount Allowed $100 Credit: Accounts Receivable or Sales $100 This reflects the reduction in revenue due to the discount offered to the customer.
