How do you record sales returns in accounting?
How do you record sales returns in accounting? Record the Sales Return Transaction Debit sales returns and allowances by the selling price. Debit the appropriate tax liability account by the taxes collected on the original sale. Credit cash or accounts receivable by the full amount of the original sales transaction. What journal are sales returns … Continue reading How do you record sales returns in accounting?
Copy and paste this URL into your WordPress site to embed
Copy and paste this code into your site to embed