To whom it may concern,
I am doing an assignment and have the following question.
Question: What is the bookkeeping entry for the following action.
I sold goods on cash as a company.
DR Cash 1.200.000
CR VAT 200.000
CR Revenue 1.000.000
The question is: What happened if there is returns inwards of 30.000. And important is that the clients received a voucher and no cash. What are my entries now?
DR Returns inwards 30.000
DR VAT 6.000
CR ????????? What is this account and how should I proceed when it comes to P/L Account?
Greetings birdie!
I am doing an assignment and have the following question.
Question: What is the bookkeeping entry for the following action.
I sold goods on cash as a company.
DR Cash 1.200.000
CR VAT 200.000
CR Revenue 1.000.000
The question is: What happened if there is returns inwards of 30.000. And important is that the clients received a voucher and no cash. What are my entries now?
DR Returns inwards 30.000
DR VAT 6.000
CR ????????? What is this account and how should I proceed when it comes to P/L Account?
Greetings birdie!