debit
Is it right that I debit the refund to [Sales returns] and credit it to [Cash at bank]? But the answer given by my teacher is that the refund is debited to [Trade receivables] and credited to [Cash at bank].
When goods refund:[Debit] Sales returns[Credit] accounts receivable / cashAdjusting entry:[Debit] sales revenue[Credit] Sales returns
debit a/r credit cash
Debit Note - Money being taken out such as invoiced or charged Credit Note - Money being given back such as refund or over payment.
Debit
debit
Is it right that I debit the refund to [Sales returns] and credit it to [Cash at bank]? But the answer given by my teacher is that the refund is debited to [Trade receivables] and credited to [Cash at bank].
When goods refund:[Debit] Sales returns[Credit] accounts receivable / cashAdjusting entry:[Debit] sales revenue[Credit] Sales returns
debit a/r credit cash
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Debit Note - Money being taken out such as invoiced or charged Credit Note - Money being given back such as refund or over payment.
Credit authorization scheme.Debit Memo - It is a sales document used in complaints processing to request a debit memo for a customer. If the prices calculated for the customer were too low.
[Debit] Sales returns [Credit] Cash / bank [debit] Sales revenue [credit] sales return
Debit Receivables Credit Income/Sales when cash is received: Debit Cash Credit Receivables
Debit - Cash. Credit - Customer Deposits.
Accounts Receivable is classified as an Asset. Assets have a normal Debit balance. If you mean to say that the customer has paid off some of the amount in their account, then the amount is listed on the Credit side and in the Debit side of the Cash account. If they have bought supplies on the account (owe you money) then the amount is put into the Debit side.