Sales discounts and cash receipts journal, Accounting Basics

Assignment Help:

SALES DISCOUNTS AND CASH RECEIPTS JOURNAL

SALES DISCOUNTS

Sales discount is recorded as a reduction in sales revenue. 

CASH RECEIPTS JOURNAL

Source documents: cash register tapes, sales tickets, checks received.

 


Related Discussions:- Sales discounts and cash receipts journal

The percentage analysis of changes of corresponding items, The percentage a...

The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. False

What is owner equity, What is OWNER'S EQUITY Difference between Liabili...

What is OWNER'S EQUITY Difference between Liabilities and Assets is Owner's Equity. The can also be known as capital, proprietorship, or net worth.

Assess the solvency of a business, Identify and explain the two ratios that...

Identify and explain the two ratios that are used to assess the solvency of a business.

What is prepaid rent explain with example, Q. What is Prepaid rent explain ...

Q. What is Prepaid rent explain with example? Prepaid rent Prepaid rent is another instance of the gradual consumption of a previously recorded asset. Suppose a company pays re

Show types of activities performed by business organizations, Q. Show types...

Q. Show types of activities performed by business organizations? The forms of business unit examined in the previous section are classified according to the type of ownership o

Inventory, 20 hypothetical inventory transactions both sale and purchase

20 hypothetical inventory transactions both sale and purchase

Statement credit column of the work sheet, Revenues emerge in the Income St...

Revenues emerge in the Income Statement credit column of the work sheet. The two revenue accounts in the Income Statement are credit column for Micro Train Company are service reve

Eco-02, “Ledger is said to be the principal book entry and the transactions...

“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

Provision for depreciation, Why is a provision for depreciation made in the...

Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak

A recent cash budget showed estimated cash receipts, A recent cash budget ...

A recent cash budget showed estimated cash receipts of $159,000, estimated cash disbursements of $155,000, and a desired ending cash balance of $6,000, with no borrowing of funds

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd