Al Bajha Company grants a $ 400 allowance to a customer for damage resulting from...
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Accounting
Al Bajha Company grants a $ 400 allowance to a customer for damage resulting from improperly packed merchandise. If the customer has not yet paid the account, the required journal entry would be: O O DEBIT Sales return and allowances $400 CREDIT Accounts receivable $400 DEBIT Accounts receivable $ 400 CREDIT Sales return and allowances $400 DEBIT Purchases $400 CREDIT Cash $400 DEBIT Cash $400 CREDIT Sales $400 O
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