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What is the journal entrie for sales on account?

Updated: 9/16/2023

Wiki User

∙ 14y ago

Best Answer

debit accounts receivable
credit sales revenue

Wiki User

∙ 9y ago

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Wiki User

∙ 13y ago

Credit sales (P&L), Credit sales tax (VAT, GST etc) if applicable (BS), Debit debtor (customer account) (BS).

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Wiki User

∙ 14y ago

Dr. Accounts receivable

Cr Sales

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What is the journal entrie for purchase on account?

[Debit] Goods purchased [Credit] Accounts payable

The entries in a sales journal will show?

Entries in sales journal shows all the sales company has made on credit and no other transaction is part of sales journal account.

What needs to happen when recording a journal entry for a sale account?

When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.

Where would a sale on account be journalized?

Sales journal

Does a purchases journal record sales on account?

Purchase journal only records and deals in with purchases and don't deal with sales items.

Related questions

What is the journal entrie for purchase on account?

[Debit] Goods purchased [Credit] Accounts payable

The entries in a sales journal will show?

Entries in sales journal shows all the sales company has made on credit and no other transaction is part of sales journal account.

What is the journal entry for sales return?

[Debit] Sales Return account [Credit] Cash account

What needs to happen when recording a journal entry for a sale account?

When recording a journal entry for a sales account, ensure that the sales are strictly done on credit terms.

A sales return for credit on account would be recorded in what type of journal?

General Journal Sales Returns and Allowances - A company with sales returns and allowances can record them in the General Journal.

Where would a sale on account be journalized?

Sales journal

Does a purchases journal record sales on account?

Purchase journal only records and deals in with purchases and don't deal with sales items.

How do you post the closing journal entry for sales returns?

debit sales accountcredit sales return account

Which ledger account is affected by an overcast inward journal?

sales ledger

What is journal entry for carriage on sales?

Debit Cash / bank / Account receivableDebit Carriage outwardCredit Sales

What is the journal entry account receivables?

Debit accounts receivableCredit sales revenue

How do you enter a entry in to journal to correct errors when the sales day book has been overcast by 220?

debit sales account 220credit suspense account 220

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