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Earn +20 ptsQ: What is the journal entry when you receive a cash refund?
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What is the journal entry to record a refund?
Debit refund accountCredit cash / bank
What is the general ledger journal entry for a refund?
Cash a/c to debtors a/c
What is the general journal entry for returned damaged supplies for a cash refund of 300.00?
[Debit] Cash 300 [Credit]Purchased returns 300
What will be the journal entry receive a sum in cash from customer?
debit cashcredit accounts receivable
If a company returns defective supplies that were purchased for by cash and receives cash refund is this transaction recorded in Cash Receipts Journal?
Yes, the transaction of returning defective supplies and receiving a cash refund would typically be recorded in the Cash Receipts Journal. The entry would involve debiting the accounts payable or purchases returns account for the amount of the defective supplies and crediting the cash account for the amount of the refund received.
What is the journal entry for cash at bank?
debit bankcredit cash
What is journal entry of purchase of raw material on cash?
The journal entry is as follows: [Debit] Raw material XXXX [Credit] Cash/bank XXXX
What is the journal entry for donated cash?
[Debit] Cash [Credit] Donations
What is the journal entry for cash paid?
Debit accounts payableCredit cash
What is is the journal entry for cash in hand?
debit cash credit bank
What is the journal entry for depreciation?
debit depreciationcredit cash
What is journal entry for petty cash?
Debit petty cashCredit cash / bank
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