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Where do you post Credit Sales in Trading or P& L Account,
or should we deduct from the actual sales and put the net
figures in the column. Clarify
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Answer Posted / h.r. sreepada bhagi
Both Cash & Credit Sales will appear on the Credit Side or
under Income in Profit & Loss Account. If there's sales
returns, the same should be deducted from sales to show net
sales during the reporting period.
In case of Credit Sales, the amount receivable from the
customers will be shown under Assets Side of the Balance
Sheet at the end of the reporting period grouped under
'Accounts Receivable' or 'Sundry Debtors'
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