In a manual system, after which event in the sales process should the customer be billed?

How do you determine the invoice of merchandise returned?

What accounts are used to recognize a retailer’s purchase from a manufacturer on credit?A. accounts receivable, merchandise inventoryB. accounts payable, merchandise inventoryC. accounts payable, cashD. sales, accounts receivable

A receiving report is filled out when we receive: An inventory shipment from a vendor. Items that a customer is authorized to return from a previous sale. A payment on a customer's account. a and b only. Answer is not the First option!

Compare and contrast a manual accounting system with a computerized accounting system for process vendors transactions. What uses are there for using tje vendor balance summary and AP aging summary reports? Explain why the balance in merchandise inventory different than in accounts payable? Be sure to include at least one reference from an online resource.

Briefly explain the accounting treatment for sales returns.

With consignment sales, at the time of the sale to a third party: the consignee only records revenue the consignor only records revenue the customer records the sale the consignee and the consignor record revenue

If a customer purchases merchandise on credit and returns the defective merchandise beforepayment, what accounts would recognize this transaction?A. sales discount, cashB. sales returns and allowances, cashC. accounts receivable, sales discountD. accounts receivable, sales returns and allowances

How to journalize entries from accounting for sales with frieght transaction

When goods are sold on a bill-and-hold basis, what conditions must be met to recognize revenue upon receipt of the order?