credit sales
debit to Accounts Receivable and a credit to Sales Revenue.
Debit bankCredit sales revenue
they are used for recording all sales invoices.they are also used for recording all the sales credit.Day books are also used for recording all the purchase invoices.Purchase credit notes are also recorded in the day books.They are also used for recording all money received as well as money paid out.Day books record journals and are used for recording small value purchases paid by cash.
A sales journal is used to record all sales transactions made by a company. It helps track sales revenue, monitor the performance of salespeople, and provide a detailed record for financial reporting and analysis.
Revenue is often used synonymously to the word sales (cash & credit both)
Sales day book is used to record the daily credit sales. in a sales day book we just write the date, customer name, invoice no and amount. its a very primary book to write the credit sales. it can be used as a reference when preparing the sales accounts of individual customers
[Debit] Supplies expenses [Credit] Supplies Inventory
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Depending on the credit terms, the accounts used may vary slightly but it is a basic entry. If the credit terms are where the account will be paid off in one year or less the accounts are: Account Receivable (debit) Revenue (credit) If the terms end up being more than one year then the only account that changes is the accounts receivable and you use Notes Receivable. Notes Receivable (debit) Revenue (credit) *note, some companies may list revenue as Sales, Sales Revenue, Income, etc. For general purposes Revenue is most commonly used. (GAAP)
When a company uses special journals, the general journal is used for selected transactions and events that do not fit into any of the specific categories of the special journals. These could include recording adjusting entries, correcting errors, or any unique transactions that don't have a designated special journal.
It depends on the kind of discount and agreement that has been agreed upon in the sale transaction. Here is an example of a journal entry for discount for a normal credit sale transaction: Accounts receivable 9000 (dr) Discount from sale 500 (dr) Sales 9500 (cr)