Journal of Accounting at the time of the sales returns

Journal of Accounting at the time of the sales returns . satriaonblogger- Assaamualaikum this time I will discuss the Journal at the time of return or better known as sales returns. When we make a sale we would have to consider the returns that might happen in the future. In accounting for the already set up an account called sales returns and allowances .This account is useful as a deduction from sales . As for the beginning of an accounting period to estimate sales returns that may occur with the use of allowance account for sales returns and allowances. for more details, see the journal as follows: 

1 Journal sales returns by reducing accounts receivable

            Sales returns and allowances xxxxxxx
                              accounts receivable xxxxxxxx

Description: 

In this journal sales returns will affect the trade receivable is ours, with sales returns it will reduce the accounts receivable are recorded on the credit and we noted the increasing returns on the debit (normal balance of sales returns and allowances on the debit) 

2.Jurnal sales returns by returning cash

                  Sales returns and allowances xxxxxxx
                                      cash xxxxxxxxx

Description:
In this journal sales returns will affect the cash that we have received, with sales returns then we have to return the cash received from customers are recorded on the credit and we noted the increasing returns on the debit (normal balance of sales returns and allowances on the debit ) 

3. Journal sales returns by replacing the goods again

                    Sales returns and allowances xxxxxxx
                                             inventory xxxxxxxx

Description:
In this journal sales returns will affect the supply company, with sales returns then we have to spend to replace the inventory of returned goods the customer and are recorded on the credit. then we note the increasing returns on the debit (normal balance of sales returns and allowances on the debit) 

For journals when management estimates sales returns that may occur are

                    Sales returns and allowances xxxxxxx
                                    Allowances for sales returns and allowances xxxxxx

Description:
This journal is done when management estimates the returns that will occur in the future. If you use this estimated sales returns and allowances throughout the journal numbers 1,2, and 3 above is replaced with an account Allowances for sales returns and allowances. 

For more details, see the following example problems:

PT company estimates sales returns that will occur during the year 2013 were 10% of sales. At 1 janurari PT company managed to sell goods worth USD 10 million on the national credit PT .On May 2013 PT National perform PT returns to the comapany due to dissatisfaction worth 200.000. Keep a journal that is necessary to record the transaction!

Answer:

a. Journal to record sales

                  Accounts receivable 10,000,000
                                   sales 10,000,000

b. Journal to record estimated sales returns

                 Sales returns and allowances 1,000,000
                                   Allowances for sales returns and allowances 1,000,000

                                   (10% x 10,000,000)
c. Journal at the time of return:

                   Allowances for sales returns and allowances 200,000
                                Accounts receivable 200,000

Description:
Accounts Allowances for sales returns and allowances account serves as a substitute for Sales returns and allowances if the first estimation method
Maybe just it that I could discuss, if anyone can directly ask questions via the comment below :)