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Merchandise is sold for cash The selling price of the merchandise is 3000 and the sale is subject to a 7 state sales tax The journal entry to record the sale would include?
A debit to Cash for $3,000.
Merchandise with a sale price of 500 is sold on account with the terms 2 10 n 30 The journal entry to record the sale would include a?
490
Can you record transactions in 2 journals Example Can sale of merchandise for cash be put in the cash receipts journal and the sales journal?
A sale of merchandise for cash would be: Debit cash or bank account, Credit sales
How do you record a journal entry for sale of equipment?
Debit cash / bankCredit equipment
How do you record a journal entry for the cost of a sale?
debit cost of salescredit cash / bank
Merchandise is sold for cash The selling price of the merchandise is 3000 and the sale is subject to a 7 state sales tax The journal entry to record the sale would include?
A debit to Cash for $3,000.
Merchandise with a sale price of 500 is sold on account with the terms 2 10 n 30 The journal entry to record the sale would include a?
490
What is the journal entry to record a sale from inventory with a trade in?
Sales >>>Cash/Accounts Rec/NotesRec Cost of Goods Sold >>>Merchandise Inventory
Can you record transactions in 2 journals Example Can sale of merchandise for cash be put in the cash receipts journal and the sales journal?
A sale of merchandise for cash would be: Debit cash or bank account, Credit sales
How do you record a journal entry for sale of equipment?
Debit cash / bankCredit equipment
How do you record a journal entry for sale on account?
Debit accounts receivableCredit sales revenue
How do you record a journal entry for the cost of a sale?
debit cost of salescredit cash / bank
What need to happen when recording a journal entry for a sale account?
To record a journal entry for sales, the possession of goods or services is transferred from business to client or end user.
How do you record a journal entry for an installment sale?
Installment A/r(dr) Installment sales(cr)
How do you record journal entry of SALE land on credit?
debit accounts receivablecredit land account
How do you properly record a sales journal entry?
To properly record a sales journal entry, you need to debit the accounts receivable or cash account for the amount of the sale, and credit the sales revenue account. This reflects the increase in assets or cash from the sale, and the revenue earned from the transaction.
What is the journal entry to record sale of donated assets?
[Debit] Cash / bank xxxx [Credit] Sale of donated asset xxxx
