journal entry for goods returned by customer
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Subject:
Accountancy -
Author:
carmden -
Created:
1 year ago
Answers 2
Answer:
When merchandise is returned, the sales returns and allowances account is debited to reduce sales, and accounts receivable or cash is credited to refund cash or reduce what is owed by the customer. A second entry must also be made debiting inventory to put the returned items back.
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Author:
fonziepwps
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Rate an answer:
5
Answer:
When merchandise is returned, the sales returns and allowances account is debited to reduce sales, and accounts receivable or cash is credited to refund cash or reduce what is owed by the customer. A second entry must also be made debiting inventory to put the returned items back.
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Author:
ariaqddm
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Rate an answer:
1
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