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What is journal entry for allowances to debtors?

Anonymous

∙ 10y ago

Updated: 9/24/2023

[Debit] Allowance for debtors account

[Credit] Accounts receivable account

Wiki User

∙ 10y ago

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Continue Learning about Accounting

What is the journal entry for sales returns and allowances?

Debit: Sales Returns & Allowances Credit: Accounts Receivable :)

What will be the journal entry for sundry debtors 1000?

sundry debtors A/c........DR 1000 TO Sales A/c 1000

What is the general ledger journal entry for a refund?

Cash a/c to debtors a/c

What is the journal entry of Advance received from debtors?

Debtors are those customers who purchase goods from company on credit so no advance can be issued by debtors. on the other hand advance can be received from customers and accounting entry is as follows: [Debit] Cash / bank [Credit] Unearned revenue

How do you pass entry for payment received from debtors in journal as well as in payment?

debit cash / bankcredit accounts receivable

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Related Questions

What is the journal entry for sales returns and allowances?

Debit: Sales Returns & Allowances Credit: Accounts Receivable :)

What will be the journal entry for sundry debtors 1000?

sundry debtors A/c........DR 1000 TO Sales A/c 1000

What is the general ledger journal entry for a refund?

Cash a/c to debtors a/c

What is Journal entry for provision for debtors?

No entry for opening debtors these are just transferred from previous period to current period.

What is the journal entry of Advance received from debtors?

Debtors are those customers who purchase goods from company on credit so no advance can be issued by debtors. on the other hand advance can be received from customers and accounting entry is as follows: [Debit] Cash / bank [Credit] Unearned revenue

How do you pass entry for payment received from debtors in journal as well as in payment?

debit cash / bankcredit accounts receivable

What is the journal entry for amount received from debtor after sales?

debit cashcredit accounts receivable

What is a debtors' allowance journal?

Debtors may sometimes be unhappy with their purchases and wish to claim a refund (allowance) from the supplier. Some reasons for this include poor quality goods, wrong colour, wrong size, overcharges, errors on the invoice, and so forth. The debtor then sends a debit note (D/N) to the trader in which the claim is made in respect of the goods returned or overcharge claimed . After investigation the supplier, if in agreement with the claim, issues a credit note (C/N) to the customer. One copy is sent to the debtor and the other is the source document for the entry in the business's Debtors Allowances Journal (DAJ) The DAJ is like a sales returns and overcharges journal.

'how to teach debtors' journal'?

You make them to undesdand when we talk about debtors we talk about what

A sales return for credit on account would be recorded in what type of journal?

General Journal Sales Returns and Allowances - A company with sales returns and allowances can record them in the General Journal.

Journal entry for Credit sales with Discount?

Debtors a/c Dr. Discount expense a/c Dr. To Sales a/c

What entries are posted to the cash payment journal and not the general journal?

Are the payment for cash(people who came and buy for cash ) Any entry can be posted into the general journal. It is really messy and long to post the stuff in the sales, sales returns and allowances, purchases and purchases returns and allowances jounal into the general jounal so those journals are created to make things easier. So basically, any entries that are posted to the cash payments journal can be posted to the general journal.

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