Ask Experts Questions for FREE Help !
Ask
    red2008's Avatar
    red2008 Posts: 1, Reputation: 1
    New Member
     
    #1

    Apr 29, 2010, 06:01 PM
    Are sales discounts a credit or debit?
    I am having problems classifying sales, sales discounts, and sales returns and allownaces on an unadjusted trial balance. Can someone give me a little help?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
     
    #2

    Apr 29, 2010, 10:35 PM

    If Sales are always a CREDIT,
    Sales discounts and sales returns are always a DEBIT.

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!

When calculating cost of sales percent do you use sales before discounts or after? [ 1 Answers ]

When calculating cost of sales on a financial statement do you use sales before discounts of after discounts?

Quick Books Pro 2009 Credit memos/discounts [ 1 Answers ]

I owe my customer for several bills - $1200. My customer owes me for several invoices $1500. So he cuts me a cheque for $300. I'm confused about creating credit memos and how to apply the payments on each side. Please help.

Debit balance, debit entries, and credit entries [ 1 Answers ]

This is a silly question I'm sure, and the answer is very simple, but it is driving me crazy... The problem is: At the beginning of the year, The Office Equipment account of Gulf Coast Airlines had a debit balance of $126,900. During the year, debit entries of $23, 400 and credit entries of...


View more questions Search