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What Journal entry for sales return?

Updated: 4/28/2022

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∙ 10y ago

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Debit sales return
Credit accounts receivable / cash / bank

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How do you post the closing journal entry for sales returns?

debit sales accountcredit sales return account

How do you do journal entry for Forecasting Sales?

There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.

Journal entry for returned goods by customer?

[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return

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

Journal entry for sales and sales return?

Journal entry for booking a sale:Accounts Receivable/Party [Debit] $value$Sales [Credit] $value$Tax on sales (GST. excise, etc.) [Credit] $value$Primarily, it is a reversal of the entry passed at the time of booking the sale:Sales [Debit] $value$Tax on sales [Debit] $value$(GST. excise, etc.)Accounts Receivable/Party [Credit] $value$

Related questions

What is journal entry for sales return?

[Debit] sales return [credit] cash / bank

What is the journal entry for sales return?

[Debit] Sales Return account [Credit] Cash account

What is the journal entry for a sales return?

[debit] sales returnscredit cash / accounts receivable

Journal entry for sales return?

Cash Ac Dr to Sales AC To sales Return Alc

How do you post the closing journal entry for sales returns?

debit sales accountcredit sales return account

Journal entry of sale return?

[Debit] Sales Return [Credit] Accounts receivable / Cash

How do you do journal entry for Forecasting Sales?

There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.

What is the journal entry for a sales return under the direct method?

debit sales returnCredit cash / bank / accounts receivable

Journal entry for returned goods by customer?

[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return

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 IS THE JOURNAL ENTRY FOR SALES DISCOUNTS?

expense

Journal entry for sales and sales return?

Journal entry for booking a sale:Accounts Receivable/Party [Debit] $value$Sales [Credit] $value$Tax on sales (GST. excise, etc.) [Credit] $value$Primarily, it is a reversal of the entry passed at the time of booking the sale:Sales [Debit] $value$Tax on sales [Debit] $value$(GST. excise, etc.)Accounts Receivable/Party [Credit] $value$

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