What Are Contra Accounts? Definition, Varieties, And Examples
In your earnings assertion, the product sales are $50,000 less than the gross sales returns and allowances of $1000. Gross Sales returns occur when a customer returns a product they previously purchased, a common incidence in retail and e-commerce. As a enterprise proprietor, you’ll record these returns as contra revenue as a end result of […]
What Are Contra Accounts? Definition, Varieties, And Examples
In your earnings assertion, the product sales are $50,000 less than the gross sales returns and allowances of $1000. Gross Sales returns occur when a customer returns a product they previously purchased, a common incidence in retail and e-commerce. As a enterprise proprietor, you’ll record these returns as contra revenue as a end result of […]
