Is sales return debit or credit? - Financial Falconet
Is sales return debit or credit? - Financial Falconet
Is sales return debit or credit? Sales return is a debit entry because it is a contra-sales account that reduces the credit balance of sales. Why is sales return a debit entry? Examples and reason.
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SOLVED: When a sales return or a sales allowance is being recorded, why is it preferable to debit the Sales Returns and Allowances account instead of the Sales account?Question 20 options:Because all firms use a Sales Returns and Allowances Journal.Because the Sales Returns and Allowances account does not appear on the Income Statement.Because this simplifies the journal entry recording process.Because this procedure gives a complete record of sales returns and allowances for each accounting per
SOLVED: When a sales return or a sales allowance is being recorded, why is it preferable to debit the Sales Returns and Allowances account instead of the Sales account?Question 20 options:Because all firms use a Sales Returns and Allowances Journal.Because the Sales Returns and Allowances account does not appear on the Income Statement.Because this simplifies the journal entry recording process.Because this procedure gives a complete record of sales returns and allowances for each accounting per
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SOLVED: When a sales return or a sales allowance is being recorded, why is it preferable to debit the Sales Returns and Allowances account instead of the Sales account?Question 20 options:Because all firms use a Sales Returns and Allowances Journal.Because the Sales Returns and Allowances account does not appear on the Income Statement.Because this simplifies the journal entry recording process.Because this procedure gives a complete record of sales returns and allowances for each accounting per
SOLVED: When a sales return or a sales allowance is being recorded, why is it preferable to debit the Sales Returns and Allowances account instead of the Sales account?Question 20 options:Because all firms use a Sales Returns and Allowances Journal.Because the Sales Returns and Allowances account does not appear on the Income Statement.Because this simplifies the journal entry recording process.Because this procedure gives a complete record of sales returns and allowances for each accounting per
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