recording private company credit card salesgoes
Recording Private Company Credit Card Sales
Goes to the individual company-not a bank.
Treated as a sale on account.
Credit card Company is responsible for collection of the fee.
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sales discounts and cash receipts journalsales discountssales discount is recorded as a reduction in sales revenue cash receipts journalsource
sales taxes and schedule of accounts receivable schedule of accounts receivable accounts receivable and individual accounts should match only
state about the reporting sales taxes collectedsales tax payable - credit balancesales returns involving a sales taxtax should also be returned to
determine the types of credit card salesbank credit card sales - most retail businesses accept bank credit cards treated as a cash salerecording bank
recording private company credit card salesgoes to the individual company-not a banktreated as a sale on accountcredit card company is responsible
state the list of special journalspurchases - all credit purchases of merchandisecash payments - all payments of cashsales - all credit sales of
prepare a trial balance all account names would be listed in left-hand column place the account balance in appropriate debit or credit column for
determining needed adjustmentsadjustments are required since certain changes take place during the accounting period as time passes although the
explain in detail about the merchandise inventorycost of merchandise purchased during an accounting period is debited to purchases account to
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