Chapter 8 Sales Returns Flashcards
1
Q
Accounts Payable
A
Credit purchase
Purchases return
2
Q
Accounts Receivable
A
Credit sale
Sales return
3
Q
Credit Purchase
A
Inventory - Debit
GST clearing - Debit
Accounts Payable - Credit
4
Q
Purchases Return
A
Inventory - Credit
GST Clearing - Credit
Accounts Payable - Debit
5
Q
Credit Sale
A
Cost of Sales - Debit Inventory - Credit Accounts Receivable - Debit Sales - Credit GST Clearing - Credit
6
Q
Sales returns
A
Cost of sales - Credit Inventory - Debit Accounts receivable - Credit Sales Return - Debit GST Clearing - Debit
