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Le vendite restituisce - nel giornale generale

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  • Note di Apprendimento
  • Revisione degli argomenti
    Wendy C.
    AU
    Wendy C.

    Sales returns must be recorded in the journal entry.

    Samuel F.
    ZA
    Samuel F.

    How should the sale of gift certificates be recorded in the general ledger?

    Harrison A.
    AT
    Harrison A.

    A sales/purchase return occures when a buyer returns merchandise that it has purchased from a seller/supplier. However,under the periodic system,the cost of the merchandise that was returned is recorded as (1) a credit to the general ledger account purchase returns or the account purchase returns and allowances, and (2) a debit to accounts payable . The supplier/seller will record the return with a debit to sales returns and a credit to accounts receivable . The credit balance in the purchase returns account will partially offset the debit balance in the account purchase.Since the the returns of purchase merchandise is time consuming and therefore costly,having the separate general ledger account purchase returns allows managers to quickly see the magnitude of the returns .

    Diamond T.
    US
    Diamond T.

    How should the sale of gift certificates be recorded in the general ledger?

    Douglas R.
    US
    Douglas R.

    Goods returned.

    Erick V.
    PE
    Erick V.

    Devoluciones de ventas - en el diario general, ahí se debitaran las devoluciones de ls vents

    Tony I.
    NG
    Tony I.

    When sales has been recorded in the sales return and then later returned, what happens next?

    Pride C.
    ZW
    Pride C.

    When a customer presents the gift certificate for merchandise or for services, the liability account Gift Certificates Outstanding will be reduced with a debit and a revenue account will be credited. If the revenue is a sale of merchandise, the income statement will match the cost of goods sold and other expenses with the revenue

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