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What happens if I return something I bought with a credit card?
If you return something you bought with a credit card, the merchant will typically refund the purchase amount back to your credit card. This will result in a credit on your credit card statement, reducing the amount you owe.
Can you purchase an item with a credit card and then return it for cash?
No, you cannot typically purchase an item with a credit card and then return it for cash. Most stores will only refund the amount back to the credit card or provide store credit.
Do I need the credit card to return an item?
In most cases, you will need the credit card used for the purchase to return an item.
What happens to your credit if you voluntarily have your?
what happens if i voluntarily return my car to the bank due to job loss
Purchase Return and Allowances is a contra account and its normal balance would be?
a debit and credit
What happens if I return something I bought with a credit card?
If you return something you bought with a credit card, the merchant will typically refund the purchase amount back to your credit card. This will result in a credit on your credit card statement, reducing the amount you owe.
What is the balance for purchase return and allowances?
CREDIT
Can you purchase an item with a credit card and then return it for cash?
No, you cannot typically purchase an item with a credit card and then return it for cash. Most stores will only refund the amount back to the credit card or provide store credit.
What is the journal entry for purchase returns?
[Debit] Purchase Return [Credit] Purchases
Do I need the credit card to return an item?
In most cases, you will need the credit card used for the purchase to return an item.
What is the journal entry for purchase return goods on credit?
debit accounts payablecredit purchase returns
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 happens to your credit if you voluntarily have your?
what happens if i voluntarily return my car to the bank due to job loss
Say I make a purchase at a store and later on have to return the item. Does it hurt my credit if I return the purchased item Does it matter if money is credited on card or returned in cashstore cr?
No, it does not hurt your credit. No, it doesnt matter, when you return an item that you purchased on credit, they ask for your card and return the money onto your credit card!
Purchase Return and Allowances is a contra account and its normal balance would be?
a debit and credit
Purchase Return and Allowances is a contra account and its normal balance would be...?
a debit and credit
Purchase Return and Allowances is a contra account and its normal balance would be.?
a debit and credit
