Ask Experts Questions for FREE Help !
Ask
    usmc125's Avatar
    usmc125 Posts: 1, Reputation: 1
    New Member
     
    #1

    Oct 24, 2013, 08:55 PM
    What account is debited when it returns merchandise to a vendor on credit
    what account is debited when it returns merchandise to a vendor on credit
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
     
    #2

    Oct 25, 2013, 05:26 AM
    Accounts Payable if the original journal entry was a Credit to Accounts Payable.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Credit Memo from vendor [ 0 Answers ]

I have a credit memo for 15,000 from a vendor that is refunding charges because their service didn't work. Problem is they said they would only refund the charges if we signed a 2 year contract with them since they fixed the issue. We pay them 5,000 a month so the credit will be gone in 3 months....

An accountant has debited an asset account for $1,000 and credited a liability accoun [ 1 Answers ]

An accountant has debited an asset account for $1,000 and credited a liability account for $500. What can be done to complete the recording of the transaction? a. Nothing further must be done. b. Credit a different asset account for $500. c. Debit a stockholders’ equity account for $500. d....

When paying an invoice in an accrual-based system, what is your debited account? [ 0 Answers ]

When paying an invoice in an accrual-based system, what is your debited account?

Vendor credit memos [ 1 Answers ]

Does vendor credit memos posts to the purchases journal?


View more questions Search