Respuesta :
The journal entry for recording sale of purchase will be cash account debit $69 and credit sale account $69.
Given information:
Coupon = $10 off on purchase of $50 or more
Actual purchase = $79
sale amount = $79-$10 =$69
In order to document a commercial transaction in the financial records of the company, a journal entry is employed. A journal entry is often made in the general ledger, but it can also be made in a special account and subsequently rolled forward into ledger accounts after being summarized. After then, the financial statement is utilized to produce the company's financial statements.
Every business transaction should be recorded in at least two places, according to the reasoning behind a journal entry. For instance, when you make a cash sale, the revenue accounts as well as the cash account are both increased. Alternatively, if you purchase items on credit, this raises both the current liabilities and inventory accounts.
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