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What is contra account
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How to record revenue of sales into a journal and how do I know which contra account to use? If I sold a room for $100 I will credit my sales account correct? Which account would I need to debit?
Trial bal with contra account
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I have a trial bal with a accounts receivable cur $5906.00 with a contra account 90 dryas bal 38495.00 how do I proceed with this to the bal sheet?
Contra revenue account Who would you question if it was not a mistake
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Your merchandise inventory have been corrected, your sales proceeds (sales, COGS & returns) have been recorded. This is to record payments for your outstanding AR. Who would you question if it was not a mistake?
Asset account and its contra account balance is called?
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I was unable to fined the answer to this question in my learning material. Thank you in advance for any help with this question.:)
Contra account?
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Could someone please give me a simple example/s of contra account and a simple explanation of what it is. Thanks View more questions Search
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