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A purchase returns journal (also known as returns outwards journal/purchase debits daybook) is a prime entry book or a daybook which is used to record purchase returns.In other words, it is the journal which is used to record the goods which are returned to the suppliers.
Special journals (in the field of accounting) are specialized lists of financial transaction records which accountants call journal entries.In contrast to a general journal, each special journal records transactions of a specific type, such as sales or purchases.
In accounting, the concept of a freight expense or freight spend account can be generalized as a payment for sending out a product to a customer. It falls under the umbrella category of expenses and is treated like other expense accounts in relation to the accounting equation, however, under generally accepted accounting rules, if the freight is Freight expense has a normal debit balance.
Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
An ugly brawl after the final whistle marred Michigan’s shocking upset win over rival Ohio State, who entered the game at the No. 2 team in the nation.
As President-elect Donald Trump stands poised return to the presidency, what will his foreign policy entail? Sen. Mitch McConnell says Trump should base his foreign policy on "hard power."
FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feedstocks. They are used to manage assumptions of costs related to inventory, stock repurchases (if purchased at different ...
Johnson came back with a new spending plan Thursday approved by Trump that had a two year suspension of the debt ceiling. That approach failed, despite the president-elect urging Republicans to ...