sales discounts and cash receipts journalsales
SALES DISCOUNTS AND CASH RECEIPTS JOURNAL
SALES DISCOUNTS
Sales discount is recorded as a reduction in sales revenue.
CASH RECEIPTS JOURNAL
Source documents: cash register tapes, sales tickets, checks received.
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explain the terms of paymentrevolving charge plans are set up so that you can pay a percentage plus a finance charge on a monthly basiscredit terms -
determine the terms of recording sales of merchandisethe sales account is a temporary account with a normal credit balance its only used to record
what is acounts receivable ledgerbusinesses have several customers and individual businesses arent assigned an account number they are just in
determine about the sales returns and allowancesallowance results when a buyer decides to keep defective or damaged goods though at a reduction from
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
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