STOCK LOSS ECOMMERCE JOURNAL ENTRIES

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Accounts executive
376 Points Posted on 13 July 2021

Dear Experts,

 

We as an ecommerce participant sold goods on amazon worth rs. 100000/- and goods rs. 10000/- were damaged at amazon warehouse point. what will be the journal entries in our books for stock loss and reimbursement against the same of rs. 10000/- . Please reply...Thanks

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On 13 July 2021 at 11:44 Report
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Quick Summary
This discussion addresses how to correctly record journal entries for stock loss in an ecommerce business when goods are damaged at an Amazon warehouse. It clarifies the accounting treatment for both the initial loss and the subsequent reimbursement received from Amazon.

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Chartered Accountant
16188 Points Posted on 13 July 2021
Sales a/c dr 10000
to Loss of goods a/c 10000

Cash/Bank a/c dr 10000
to Reimbursement of damaged goods a/c 10000
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On 13 July 2021 at 12:50
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Accounts executive
376 Points Posted on 13 July 2021
Sir second entry's credit account is not understanding
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On 13 July 2021 at 14:25
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Chartered Accountant
16188 Points Posted on 13 July 2021
Sorry the entry was wrong...

Entry will be

Reimbursement of damaged goods a/c dr 10000
to Cash/Bank a/c
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On 13 July 2021 at 14:37

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