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Journal entry for Credit sales with Discount?

Anonymous

∙ 13y ago

Updated: 9/15/2023

Debtors a/c Dr.

Discount expense a/c Dr.

To Sales a/c

Wiki User

∙ 13y ago

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What is the journal entry for a cash sell?

Debit Cash Credit Sales

What is the journal entry to show a credit sale for 1000 with a 5 percent concession discount?

debit accounts receivable 950credit Sales revenue 950

What is journal entry of cash sales?

Debit Cash $XXX Credit Sales $XXX

What journal entry is used to record purchase discounts?

It depends on the kind of discount and agreement that has been agreed upon in the sale transaction. Here is an example of a journal entry for discount for a normal credit sale transaction: Accounts receivable 9000 (dr) Discount from sale 500 (dr) Sales 9500 (cr)

What needs to happen when recording a journal entry for a sale account?

When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.

Related Questions

What is the journal entry for credit sales with a discount?

Debit accounts receivableCredit sales revenue

What is the journal entry for credit sales with discount?

Debit accounts receivableCredit sales revenue

Journal entry for credit sale with discount and tax?

debit accounts receivablecredit sales tax payablecredit sales discountcredit sales revenue

What is the Journal entry for CASH sales with discounts?

cash a/c.......dr amt(after discount) to sales a/c amt(after discount)

What is the journal entry to close sales?

Sales(debit) and income summary (credit)

What is the journal entry for a cash sell?

Debit Cash Credit Sales

What is the journal entry to show a credit sale for 1000 with a 5 percent concession discount?

debit accounts receivable 950credit Sales revenue 950

What is journal entry for sales return?

[Debit] sales return [credit] cash / bank

What is journal entry of cash sales?

Debit Cash $XXX Credit Sales $XXX

What journal entry is used to record purchase discounts?

It depends on the kind of discount and agreement that has been agreed upon in the sale transaction. Here is an example of a journal entry for discount for a normal credit sale transaction: Accounts receivable 9000 (dr) Discount from sale 500 (dr) Sales 9500 (cr)

What needs to happen when recording a journal entry for a sale account?

When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.

What is the journal entry for sales return?

[Debit] Sales Return account [Credit] Cash account

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