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Journal entries in final account
Accountancy
In final account journal entries sales, return outward,are debited and why trading account is credited Video Details ------------- Accounting - CA Foundation (New) Final Accounts of Non-Manufacturing Entities #6. Closing Stock Adjustments
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Initially when sales or return outward takes place. The journal entries will be cash/ debtor account debit TO sales/ return outward account. Now while finalizing the Books of accounts all the nominal accounts should be closed and transferred to trading and p&l. Hence sale/ return outward which normally hold a credit balance is closed by debiting the sales/ return outward account and crediting the p&l account
