Ask Experts Questions for FREE Help !
    babebutterfly's Avatar
    babebutterfly Posts: 2, Reputation: 1
    New Member

    Apr 26, 2006, 09:14 PM
    Credit Memo Question
    Name:  creditmemo0001.gif
Views: 20261
Size:  9.5 KB
    Do I make a return on this in the general journal? Like debit account payable and credit merchandise inventory? :confused:
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member

    Apr 27, 2006, 12:39 PM

    Since you are returning the inventory.

    Another option would be to credit Purchase Returns and Allowances, if you have such an account.

    Debit AP

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!

College Credit for Interning Question [ 1 Answers ]

I live in California and I graduated from college last year. I want to apply for an internship in Boston, but they won't let me apply unless I can get college credit for the internship. I checked with my alma mater and they would charge $1620 to credit it. I don't have $1620 to pay for it. I tried...

Credit card debt question [ 21 Answers ]

Yesterday I was called by FCS, the man on the phone was nice and I want to clear up this old debt(approx.15 year old cc debt). It has not been on my credit report for over 5 years and I to my understanding it has been turned over to this new company. I problem is that I agreed on an amount and...

Hard Question for an expert (Credit Rpt) [ 4 Answers ]

I bought a car in 1995 with a girlfriend.  I was stupid And young.  We broke up in DEC 1996.  She kept the car and it got Repoed and it was put on my credit as a charge off(1997).  In 1998 it fell Off my credit.  I am sure of times because I checked my credit report Every six months since...

View more questions Search