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    Kcchiefs88's Avatar
    Kcchiefs88 Posts: 3, Reputation: 1
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    #1

    Nov 30, 2008, 11:31 AM
    Journal Entry
    What journal entry would I make for this transaction... Kansas Co issued a $175 credit memorandum to Adams Co for defective merchandise sold and returned for credit.
    setoccia's Avatar
    setoccia Posts: 1, Reputation: 1
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    #2

    Dec 2, 2008, 05:12 PM

    Accounts Payable Cr. 175.00
    Kansas Dr. 175.00
    DFK's Avatar
    DFK Posts: 14, Reputation: 1
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    #3

    Dec 3, 2008, 08:41 AM

    DR. Accounts Payable
    CR. Expense
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #4

    Dec 21, 2008, 09:15 PM

    Debit Sales Returns and Allowances for the amount
    Credit Accounts Receivable for the amount.
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