exam 2 journal entires

cash sale

cash;sales revenue/service revenue

credit sale

accounts receivable;sales revenue/service revenue

customer pays a/r

cash;accounts receivable

sales return on account

sales return;accounts receivable

sales allowance on account

sales allowance;accounts receivable

customer takes sales discount

cash and sales discount;accounts receivable

estimate bad debts

bad debt expense;allowance for uncollectible accounts

write off under allowance method

allowance for uncollectible accounts;accounts receivable

accrue note interest

interest receivable;interest revenue

purchase inventory on account

inventory;accounts payable

sell inventory under perpetual

accounts receivable/cash;sales revenue

record cost of inventory sold

cogs;inventory

record depriciation

depreciation expense;accumulated depreciation

record amortization

amortization expense;intangible asset or related account

sell asset as a gain

cash and accumulated depreciation;asset cost and gain

sell asset at a loss

cash and accumulated depreciation and loss;asset cost