what is the journal entry for when a customer returns an item purchased for $250 and you refund cash
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what is the journal entry for when a customer returns an item purchased for $250 and you refund cash
A customer purchased an item on credit. Which journal entry should be made to record this purchase? Journal EntriesADebitCreditAccounts Receivable$ 250Sales Revenue$ 250BDebitCreditAccounts Receivable$ 250Customer Payment Received $ 250CDebitCreditAccounts Payable$ 237Supplies Expense $ 237DDebitCreditAccumulated Depreciation$ 725Depreciation Expense$ 725EDebitCreditPrepaid Rent$ 1,250Rent Expense$ 1,250
Journal entry help Hi, I am having an accounting issue A customer purchased an item for $500, and then our payment processing company deposited the 500 into our account. The customer returned the item and then the payment processing company took $500 out of our account. What is the journal entry for this? The customer card is showing a -500 that needs to be cleared, the bank account is over 500 and the payment processing account is over 500. How...
Assume that a customer returns an article of clothing or a household item for a refund or credit. Develop six queries a CSR might use in this situation that make use of each type of question: Open, Probing, Closed, Alternative Choice, Leading, and Direct.
When a customer returns a product to Hartville Equipment that the customer purchased on account, Hartville will issue a __________ to authorize a credit to the customer's account receivable on Hartville's books: A. refund note B. return authorization C. manager approval D. credit memo
Describe the transaction shown in the following journal entry. A. Paid cash to a customer who requested a refund. B. Received cash in advance for work to be performed in future months. C. Recorded adjusting entry for work completed. D. Received cash for services completed.
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) > Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue dr. Cash (4) cr. (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchas dr. Accounts Receivable dr....
Do the journal entry please!
a refund when the Part 3 of 6 within one year. The inventory of containers remains on the deposits are forfeited. Deposits collected on containers delivered during the year were $100,000. Ninety-flive percent of the containers 0.96 points Prepare the appropriate journal entry for the deposits returned to customers. (If no entry ls required for a transactionevent, select No Journal entry required" In the first account field.) Journal entry worksheet containers 01 < Prex S...
Your company uses the Perpetual Inventory system. What is the 4-row journal entry to record a cash-based sale? (1) dr. (to record the sale) Choose... (2) cr. (to record the sale) Choose... (3) dr. (to remove inventory) cr. Sales Revenue (4) cr. dr. Cash (to remove inventory) dr. Cost of Goods Sold cr. Merchandise Inventory Your company uses the Periodic Inve dr. Merchandise Inventory What is the journal entry when a cuscr. Cash purchased on dr. Accounts Receivable dr. Choose......
When you are creating a journal and a t-account: you have a refund from a book return that lowers the balance of the notes payable. I have cash as a debit, and notes payable as a credit. is this correct?
Give Journal entry for each of these: NPGS buys a new forklift for $500 cash: What is J/E and does the forklift go on the Balance Sheet or on the Income Statement Explain Customer buys a product from you for $3,500 that cost you $2,900. Customer promises to pay in 90 day. You are on the perpetual inventory system.. What is the journal entry or entries) at time of sale on a perpetual inventory system. On 4/01/12 You buy 1,000...