Sales Returns and Allowances - Ch. 5 Video 6

Recording Sales Returns and Allowances - Contra Revenue Account

[@Staycee33]

dude seriously you rock. I wish my teacher was more like you.

[@rizzoli7]

thank you

[@YeZhik5]

just discovered this right before my midterm! Thank god, more information, and a great go-to place for a refresher!

[@michelleg.9934]

GREAT VIDEO! Thank you very much. I've watched a few of your vids and the way you explain everything is so simple and easy to understand. Again, thank you so much!

[@Salvation1984]

Great video!! Easily explained! Thank you!!

[@abdulr1104]

Thx useful

[@ivonnelopez8203]

you're such a good teacher :)

[@sisikalay]

The previous entry - we sold 600 worth of inventory Cr side, reducing the inventory level,,, and with return, we are getting back 300 worth of inventory.. Increasing inventory level Dr side

[@rocamia2001]

I should off found this long time ago I would off done bad but thanked God I did awesome in my test.

[@monkeybananaize]

man thanks a bunch that really helped!

[@kmatsumoto126]

Easy to understand!

[@1key11]

the COGS should still be $600.00 when you give customer the $100.00 discount.

[@ThinkPinkMK]

Great video. Thank you so much.

[@lynn-leeciano4295]

how would you account for rebates to a customer? would they be considered discounts (contra sales account) or a reduction to cogs?

[@rkrehal9329]

why we did not credit sales return provision. we simply credited A/R?

[@intansapinoso6098]

How about Sales Return which are unsalable?Do we need to record them? What accounts are to be debited and credited?Thank youuu for future response

[@krisea3807]

Well, if you can cover under which account title each entry goes so that accounting equation is in balance, that would be nice.

[@dannyvas1]

zakhu ins't a problem I have to do some work on apache attack sydney 2:47 lol