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Determine about the Sales returns and allowances
Allowance results when a buyer decides to keep defective or damaged goods though at a reduction from the original price.
Return results when a buyer returns part, or all of the order
Recording Sales Returns and Allowances
A Credit Memorandum is original document
Q. What is Operating revenues? Operating revenues are the revenues generated by the main activities of the business- generally the sale of products or services or both.
GENERAL
AP2-2
I AM HAVING DIFFICULTIES SOLVING ONE PARTICULAR ACCOUNTING PROBLEM
Question 1 Briefly explain the functions of accounting Question 2 Explain the three branches of accounting Question 3 What is single entry system? What are the advantages and
The Development Stage Entities Topic specifies the guidelines for identifying an entity in the development stage, addresses the applicability of generally accepted accounting princ
What is accounting process?
accepted#
Q. Example of Income statement of a merchandising firm? To recapitulate the more important relationships in the income statement of a merchandising firm in equation form -
Control of independent demand inventory items
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