Returning part of a purchase on account
Transaction
A store bought 60 lamps on account at $45.00 each and recorded the purchase. 8 of them are the wrong model, so it sends them back, and the supplier issues a credit memo for them. The invoice has not been paid yet.
Assumptions: Perpetual inventory: each sale also records its cost of goods sold.
Accounts
Tap an account, then choose Debit or Credit and type the amount. × removes a line.
Debit
No lines yet. Choose an account above.
Credit
No lines yet. Choose an account above.
Debits $0.00Credits $0.00
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