Purchase return and allowances

Accounting
Tutor: None Selected Time limit: 1 Day

how to make a single summary journal entry to record purchase returns and allowances for the year

May 5th, 2015

date                                         account type                                     debit                        credit

june 24, 2014                          accounts payable                              800

                                           purchase returns and allowances                                            800

May 5th, 2015

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May 5th, 2015
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