Create an account
A customer returns merchandise that was delivered in poor condition and that does not meet specification. The account that the seller would debit for the amount of the return is
Sales Returns and Allowances
A schedule of accounts receivable is prepared from the
list of customer accounts in the accounts receicable ledger
to enter a cash sale the journal entry includes
debating cash, crediting sales and crediting sales tax payable
the accounts that would be credited for the amount of tax collected and paid on sales woul be
sales tax payable
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