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What would the general, adjusting, and closing entry be for sales returns and allowances?
If your company Accepted a sales return from Bob Jones for a $1,000 item, what would you post to the general journal, adjusting journal, and closing journal?
I think the general journal entry would be like this but I'm not sure. Thank you for anyone's help!
Sales Return 1,000 DR
A/R 1,000 CR
If your company Accepted a sales return from Bob Jones for a $1,000 item, what would you post to the general journal, adjusting journal, and closing journal?
I think the general journal entry would be like this but I'm not sure. Thank you for anyone's help!
Sales Return 1,000 DR
A/R 1,000 CR
What would the general, adjusting, and closing entry be for sales returns and allowances?
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