debit drawings account 2000credit goods account 2000
[Debit] Goods lost [Credit] Inventory account
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
[Debit] A account xxxx [Credit] Sales revenue xxxx
Debit Cash / bank / goods Credit Capital account
Debit goods purchasedCredit cashYes goods account is called "Inventory" account
debit drawings account 2000credit goods account 2000
A bill of entry is an account of goods entered at a custom house, of imports and exports, detailing the merchant, quantity of goods, their type, and place of origin or destination.
[Debit] Goods lost [Credit] Inventory account
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
[Debit] Drawings account xxxx [Credit] Purchases account xxxx
[Debit] A account xxxx [Credit] Sales revenue xxxx
Debit Cash / bank / goods Credit Capital account
Debit promotion and advertisement expenseCredit goods account
Rectify entry: [Debit] Ali Account [Credit] Uzair Account
Dr. Expense - Contribution. Cr. Cash/Bank Account.
What needs to happen when recording a Journal Entry for a sale on account