Journal Entry of credit note for Price dropp in Products


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This discussion explains how to record a credit note received for a price decrease on five electronic products. The recommended journal entry involves crediting the stock account and debiting sundry creditors. This ensures that the value of the stock is reduced accordingly, reflecting the actual cost of the items.

16 January 2023 We Have Received Credit note For Price dropp in electronics item for five products
how to do journal entry ?, so that price will be decreased for every five products .

17 January 2023 Credit electronic items capital goods,
Debit sundry creditors.

17 January 2023 Item Purchased For Sales , Stock Maintained Item Wise

17 January 2023 Credit stock in such a case.


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