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What is the journal entry to record sale of obsolete inventory?
Debit cash / bankdebit loss (if any)Credit inventory account
Journal entry to record physical inventory?
To record the purchase of physical inventory: Dr. inventory Cr. cash To record sale of physical inventory: Dr. cost of goods sold Cr. inventory
What is the format of the a journal entry to record the sale of inventory on account?
debit accounts receivablecredit sales revenue
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
What is the journal entry to record sale of obsolete inventory?
Debit cash / bankdebit loss (if any)Credit inventory account
Journal entry to record physical inventory?
To record the purchase of physical inventory: Dr. inventory Cr. cash To record sale of physical inventory: Dr. cost of goods sold Cr. inventory
What is the format of the a journal entry to record the sale of inventory on account?
debit accounts receivablecredit sales revenue
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
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 is the journal entry when you sale finish goods inventory?
debit cash / bank / accounts receivablecredit sales revenue
What are the accounting journal entries to record a sale of inventory with discount?
debit accounts receivablecredit sales revenue
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
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.
