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What is the journal entry for purchase return goods on credit?

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∙ 10y ago

Updated: 9/23/2023

debit Accounts Payable
credit purchase returns

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What is the journal entry for purchase returns?

[Debit] Purchase Return [Credit] Purchases

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 do you record journal entry for a purchase return?

debit cash / bank / accounts payablecredit purchase return

Journal entry for credit purchase?

[Debit] Purchases[Credit] Accounts payable

Journal entry of credit purchase of asset?

Debit assetsCredit accounts payable

Related Questions

What is the journal entry for purchase returns?

[Debit] Purchase Return [Credit] Purchases

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

What is journal entry for sales return?

[Debit] sales return [credit] cash / bank

How do you record journal entry for a purchase return?

debit cash / bank / accounts payablecredit purchase return

What is the journal entry for sales return?

[Debit] Sales Return account [Credit] Cash account

Journal entry of sale return?

[Debit] Sales Return [Credit] Accounts receivable / Cash

Journal entry for credit purchase?

[Debit] Purchases[Credit] Accounts payable

Journal entry of credit purchase of asset?

Debit assetsCredit accounts payable

What is journal entry for cash purchase?

[Debit] Purchases [Credit] cash / bank

What is journal entry in purchase good in eligible of tax credit?

debit goodscredit cashtax credit has nothing to do with actual purchase of goods.

What is the Journal entry for purchase on credit?

entry for credit purchases isPurchases a/c drTo crediters a/c

What is journal entry of purchase of raw material on cash?

The journal entry is as follows: [Debit] Raw material XXXX [Credit] Cash/bank XXXX

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