484C Accessories - E-Commerce

Sales

Fixed Operations

Sales Synopsis

Account 484C is established to record the sales of Accessories sold via E-Commerce, e.g., online.

Debits

Credits

  1. The amount of Accessories returned by online customers

  1. The selling price of Accessories sold online:

a.   Counter Retail

b.   Wholesale

 

 

684C Accessories E-Commerce

Cost of Sales

Fixed Operations

Cost of Sales Synopsis

Account 684C is established to record the Cost of Sales of Accessories sold online in Account 484C.

Debits

Credits

  1. The cost of Accessories sold to online customers

 

Example 1

Record the sale of mats to a customer for $100.  The accessory sale is $100 and sales tax is $7.  The accessory cost is $55.

Journal: Parts Sales - Cash

Entry:

 

Debit

Credit

Account 225

Cash Sales Clearing

$107

 

Account 684C

Cost of Sales – Accessories E-Commerce

$55

 

Account 242

Inventory – Parts & Accessories

 

$55

Account 324

Sales Taxes Payable

 

$7

Account 484C

Sales – Accessories E-Commerce

 

$100