transactions

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Terms in this set (...)

Purchase of Inventory
Debit inventory
Credit AP or cash
Purchases returns and allowances
Debit AP
Credit Inventory
Purchase Discount
Debit AP
Credit Inventory and cash
Sales of merchandise inventory
Debit AR or cash
Credit sales revenue
Debit CGS
Credit Inventory
Sales R and A
Debit Sales RA
Credit AR
Debit inventory
Credit CGS
Sales Discount
Debit cash and Sales Discount
Credit AR
FOB Shipping point
Debit Inventory
Credit Cash
FOB Destination
Debit Delivery expense
Credit cash
Bad Debts
Debit Bad debt expense
Credit ADA
Write off account
Debit ADA
Credit AR
Recovery of written off account
Debit AR
Credit ADA
Debit Cash
Credit Ar
Notes receivable
Debit NR
Credit AR or Cash or Revenue
Accrual of int revenue
debit interest receivable
credit interest revenue
Maturity Value payment
Debit Cash
Credit NR and Int Revenue and Int receivable
Stocks for cash
Debit cash
Credit preferred stock
PIC > par
Debit cash
Credit common stock and PIC >Par
Stock for not cash
debit equipment
credit common stock and PIC >par
Div declaration date
Debit dividends
credit dividends payable
Date of Pmnt
Debit Div payable
credit cash