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-   -   Receiving credit for damaged merchandise return (https://www.askmehelpdesk.com/showthread.php?t=81035)

  • Apr 10, 2007, 07:00 AM
    xxtislyssxx
    Receiving credit for damaged merchandise return
    I understood how to record an issuing of a credit to an accounts receivable, but now I'm confused on how to record a received credit for damaged merchandise.

    The transaction is:
    Received credit for damaged merchandise return to Maybee Plumbing, invoice #127. This is the merchandise that was returned to us from Lotus City Limited on 10/3.

    How do I record this transaction?
  • Apr 10, 2007, 08:16 PM
    CaptainForest
    So we returned merchandise.

    Dr. AR/Credit with Maybee Plumbing
    Cr. Purchase Returns and Allowances.

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