Usually, the internal control procedure for credit sales is a credit check by the seller. Other methods used for control include an aging of accounts receivable. Returning customers are judged on their ability to pay by how fast they paid in previous transactions.
a ledger account if made for credit sales.
yes they do but if the cash sales and credit sales ar the same number they equal subsales
Sales is a revenue account and all revenues has credit balance as default balance so sales also has credit as default balance while cash or accounts receivable will be debited against it.
Credit sales referes to sales and accounts payable referes to bank
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.
a ledger account if made for credit sales.
Credit Sales increases the amount of sales and sales volume.
yes they do but if the cash sales and credit sales ar the same number they equal subsales
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
A credit.
Credit Control is the part of business which is responsible for negotiation with creditors and receiving debt timely from debtors. However, a sales person is only responsible for marketing and selling the company products.
Sales is a revenue account and all revenues has credit balance as default balance so sales also has credit as default balance while cash or accounts receivable will be debited against it.
Credit Agricole had 1995 sales of $32.34 billion
Credit sales referes to sales and accounts payable referes to bank
To find annual credit sales, you can review your sales records over the year and identify which sales were made on credit rather than cash. This information is typically found in your accounts receivable or sales ledger. Alternatively, if you have a sales report that categorizes sales by payment method, you can sum the total credit sales for the year. If you use accounting software, it may provide a report that specifically outlines annual credit sales.
Sales revenue has a credit balance as a normal balance so product sales also has credit balance as normal balance.
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.