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What journal columns are used to record receiving cash from sales?
as a record cash payment bill.like the following:cash in hand (Dr)Sales or Sales Revenues (Cr)&Cost of goods Sold (Dr)inventory (Cr)
What is difference between a cash payment journal and a purchases journal?
a cash payment journal is used to record only cash payment transactions where as the purchases journal is used to record ONLY purchases on account transactions
What is function of return inward journal?
The return inward journal is primarily used to record items that a business returns to its suppliers or vendors, such as defective goods or excess inventory. This journal helps track these transactions for accurate inventory management and accounting. By documenting returns, businesses can adjust their accounts payable and maintain accurate financial records, ensuring that they reflect the true state of their assets and liabilities.
Journal entry for supplies used?
Debit supplies expensesCredit supplies inventory
Cash disbursement journal is used to record?
To record cash payment bill.
What would be the journal entry for supplies used?
debit supplies expensecredit supplies inventory
What is the journal entry for cost of supplies used?
debit supplies expensecredit supplies inventory
What is the journal entry of supplies used?
[Debit] Supplies expenses [Credit] Supplies Inventory
What would be the journal entry for supplies that have been used?
Debit supplies expenseCredit supplies inventory
What journals do you use to record purchases on account purchases for cash and cash payments?
Purchases journal is used to record purchases on account while Cash payment journal is used to record purchases for cash and cash payments.
When an accounts payable subsidiary ledger is used the entry to Accounts Payable requires two posting references in the general journal?
yes
Journal entry supplies used 200?
debit supplies expenses 200credit supplies inventory 200
