When you combine a sales return and new sale in a single journal entry -

Question

Quizplus · Accepted Answer

All of the above choices are correct. When a sales return and new sale are combined in a single journal entry, the sales return is recorded by entering a negative sign for the quantity, and the sale is recorded by entering a positive quantity. The total field for the invoice will net out the sale and return, which means that the sales return amount is deducted from the sales amount. This results in a net sales figure which is reported on the income statement.

When You Combine a Sales Return and New Sale in a Single