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Home Q & A Board Other Fields Homework Help Business Accounting
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thecarp22222 thecarp22222
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Posts: 5
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7 years ago


What entry format is appropriate if sales returns and allowances occur on factored accounts?
   

Sales Returns and Allowances     XX

       Factoring Expense                              XX
   

Receivable from Factor       XX

          Factoring Expense               XX
   

Return Liability                              XX

            Receivable from Factor               XX
   

Receivable from Factor       XX

         Accounts Receivable                XX
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#1
Educator
7 years ago
Hi there,

See if these attachments helps Grinning Face
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