Accounting & Bookkeeping & Small Business Forum

[bethany]

I need help, I don't know how I would put these in Journal form enrty....


Debit Credit

1. Sales Discount Sales discount A/R
2. Purchase Discount A/P Purchases dis.
3. Purchase merchandise
on credit Purchases A/P
4. Purchase returns
and Allowances A/P purchase returns
5. Returns of
merchandise sold sales returns A/R
6. sale of merchandise
on credit A/R Sales

[Ken]

I don't understan your question.

[Jimoh]

I do not understand your questions.Can you please explain each transations very well.Thanks

[scotti445]

4a4052ec wrote: I need help, I don't know how I would put these in Journal form enrty....


Debit Credit

1. Sales Discount Sales discount A/R
2. Purchase Discount A/P Purchases dis.
3. Purchase merchandise
on credit Purchases A/P
4. Purchase returns
and Allowances A/P purchase returns
5. Returns of
merchandise sold sales returns A/R
6. sale of merchandise
on credit A/R Sales

1.
DR Sales Discount
CR A/R

2.
DR A/P
CR Purchase Discount

3.
DR Purchases
CR A/P

4.
DR A/P
CR Purchase Returns

5.
DR Sales Return
CR A/R

6.
DR A/R
CR Sales

Debit is always first and Indent Credits

[lamo]

scotti445 wrote: 4a4052ec wrote: I need help, I don't know how I would put these in Journal form enrty....


Debit Credit

1. Sales Discount Sales discount A/R
2. Purchase Discount A/P Purchases dis.
3. Purchase merchandise
on credit Purchases A/P
4. Purchase returns
and Allowances A/P purchase returns
5. Returns of
merchandise sold sales returns A/R
6. sale of merchandise
on credit A/R Sales

1.
DR Sales Discount
CR A/R

2.
DR A/P
CR Purchase Discount

3.
DR Purchases
CR A/P

4.
DR A/P
CR Purchase Returns

5.
DR Sales Return
CR A/R

6.
DR A/R
CR Sales

Debit is always first and Indent Credits

I definitly agree with scotti but u got to pay attention in case of returns whether any other condition is provided such as percentage of charge for late return or the like.