Sales and Sales Returns
Illustrative Entry
| XX-XX-XX |
Accounts Receivable |
4,000 |
||
| Sales |
4,000 |
|||
| Sold merchandise on account |
| XX-XX-XX |
Sales Returns and Allowances |
1,000 |
||
| Accounts Receivable |
1,000 |
|||
| Customer returned merchandise previously purchased on account |