Sales return different period


Joined
Jul 1, 2008
Messages
1
Reaction score
0
Hi

We have recognized a sale of $1,000 (100%) in 2007, however, in 2008 we have a partial return of $200.

The accountants just reduced the sale of $200 in 2008 and refunded cash, but now we have a $200 loss showing up in our book.

How should the proper accounting be done in this case? Should we show this loss in 2007?

Thanks in advance

highNNdry
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top