Creditors Allowances Journal (Grade 10 NSC Matric Accounting): Flashcards
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Creditors allowances journal records
Creditors allowances journal records
Returns & allowances to suppliers/creditors
Source document for returns to suppliers
Source document for returns to suppliers
Debit note
Creditors control column shows
Creditors control column shows
Total reduction in amount owed to supplier
When to post to individual creditor accounts
When to post to individual creditor accounts
Daily
When to post totals to General Ledger
When to post totals to General Ledger
Monthly (at month-end)
Creditors control total must equal
Creditors control total must equal
Sum of all analysis columns
Effect of creditors allowances journal on liability
Effect of creditors allowances journal on liability
Reduces amounts owed to creditors
Trading stock column records
Trading stock column records
Value of stock returned
Trade discount treatment before recording
Trade discount treatment before recording
Deduct/subtract from amount
Where to record items not fitting other categories
Where to record items not fitting other categories
Sundry account/column