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Hi
please tell me which journal entry is correct:
Dr Sales Ret
Cr Cashor
Dr Sales Ret
Cr Receivablesthanks
thats what i thought.,.. but kaplan fa2 kit (2013/14).. question number 42 (basic bookkeeping) says the first one is correct..:(
I do not have the Kaplan kit.
However, unless there is more in the question then they are wrong.
A credit note is simply a ‘negative’ invoice.
(If later, they do repay cash to the customer, then later they will CR cash and DR receivables.)
nope.. there isnt anymore to the question. i have a feeling its more of a printing error.
as usual.. thank u!
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