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-   -   How do you enter the journal entry for a customer return of inventory? (https://www.askmehelpdesk.com/showthread.php?t=749119)

  • May 15, 2013, 07:10 PM
    jherbst1625
    How do you enter the journal entry for a customer return of inventory?
    Accounting, need do know the journal entry for a customer return of item?
  • May 19, 2013, 10:02 AM
    pready
    Your Debits will be to inventory for the cost of the inventory and to Sales Revenue for the amount of sale price of the inventory. Your Credits will be to COGS for the cost of the inventory and Cash(if returning cash to customer) or to Accounts Receivable (if inventory was purchased on account) for the sale price of the inventory.

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