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When the seller is paid the customer's account is.credited or debited?
Wiki User
∙ 9y ago
debited
Wiki User
∙ 9y ago
Kelly Floyd
deposited
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When the seller is paid the customer's account is credited or debited?
credited
When the seller is paid the customer's account is what?
The customer's account is credited.
Journal entry in financial accounting for purchase return?
Like sales discounts, sales returns and allowances reduce sales revenue. They also result in additional shipping and other expenses. Since managers often want to know the amount of returns and allowances for a period, the seller records sales returns and allowances in a separate account. Sales Returns and allowances is a "Contra (or offsetting) asset account to Sales. The seller debits Sales Returns and Allowances for the amount of the return or allowance. If the original sale was on account, the seller credits Accounts Receivable. Since merchandise inventory is kept up to date in a perpetual system, the seller adds the cost of the returned merchandise to the merchandise inventory account. The seller must also credit the cost of returned merchandise to the cost of merchandise sold account, since this account was debited when the original sale was made. What if the buyer pays cash and then later returns the merchandise. In this case the seller may issue a credit and apply it against other accounts receivables owed by the buyer, or the cash may be refunded. If the credit is applied against the buyer's other receivables, the seller records entries similar to those preceding. If cash is refunded for merchandise or for allowances, the seller debits sales returns and allowances and credits cash.
Freight costs incurred by a seller on merchandise sold to customers will cause an increase in what?
selling price
What is the difference between sales day book and a cash book and a purchase day book?
DEFINATION OF A SALES DAYBOOK AND A CASHBOOK. Sales day book is an account prepared when a transaction is made with a trade discount.i.e ,[trade discount is the part of price set off by a seller to the buyer for purchasing a bulk of good from the seller].It is also a subsidiary book of account. Cash book is an account prepare to show the the inflow and out flow of cash.it is use to record the cash discount [part of price set off by the seller to the buyer for prompt payment for seller's goods and services.
When the seller is paid the customer's account is credited or debited?
credited
When the seller is paid the customer account is debited or credited?
credited
Advances from customers appear in the accouting?
If you are the seller and recieve an advance payment from a customer, it means you are owing the customer and as much a creditor. Your cash is debited and the customer ( Customer's deposit account) credited;
When the seller is paid the customers account is what?
The customer's account is credited.
When the seller is paid the customer's account is what?
The customer's account is credited.
What is the customer account when the seller is paid?
The customer's account is credited.
What is Personal selling?
---- THE PROCESS THROUGH WHICH A SELLER PERSUADES THE CUSTOMERS TO BUY THE PODUCTS OR SERVICES . OR TO UNDERSTAND CUSTOMERS PROBLEMS
How can you become a good seller?
the best way to become a good seller is to listen to your customer ,then ask more question about details of your customers needs before you do what you should to do for theme
How do you make a seller account on amazon?
exe.io/4YbXad
Journal entry in financial accounting for purchase return?
Like sales discounts, sales returns and allowances reduce sales revenue. They also result in additional shipping and other expenses. Since managers often want to know the amount of returns and allowances for a period, the seller records sales returns and allowances in a separate account. Sales Returns and allowances is a "Contra (or offsetting) asset account to Sales. The seller debits Sales Returns and Allowances for the amount of the return or allowance. If the original sale was on account, the seller credits Accounts Receivable. Since merchandise inventory is kept up to date in a perpetual system, the seller adds the cost of the returned merchandise to the merchandise inventory account. The seller must also credit the cost of returned merchandise to the cost of merchandise sold account, since this account was debited when the original sale was made. What if the buyer pays cash and then later returns the merchandise. In this case the seller may issue a credit and apply it against other accounts receivables owed by the buyer, or the cash may be refunded. If the credit is applied against the buyer's other receivables, the seller records entries similar to those preceding. If cash is refunded for merchandise or for allowances, the seller debits sales returns and allowances and credits cash.
Does a seller pay at any time for his advertisement on cellbazaar website?
when a seller wants to give his advertisement on Cellbazaar website then seller only pays 2.30tk sms charge for creating a new account. After creating account the seller can use Cellbazaar for giving his advertisement, which is totally free of cost.
How legislation would effect personal selling?
The process through which a seller persuades the customers to buy the poducts or services . Or to understand customers problems
