This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: There would not be a debit to sales. The debit would be to sales returns and allowances, a contra revenue account to sales. A debit to sales, for sales returns and allowances and sales discounts, would not be incorrect as far as the nature of debits and credits go, but, the sales account should be left alone. If there were frequent debits and credits posted to the account, a total sales figure would not be available. With the use of the contra accounts, the total sales is at all times accessible....
View Full Document
This note was uploaded on 10/17/2011 for the course ACC 225 acc 225 taught by Professor Unknown during the Spring '10 term at University of Phoenix.
- Spring '10