Retail
Return of Defective Goods to Supplier
Recording a credit note from a supplier after returning damaged inventory.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Payable | Liability (-) | 1,200.00 | - |
| Merchandise Inventory | Asset (-) | - | 1,200.00 |
💡 Accountant's Note
This reduces the balance you owe the vendor and corrects your inventory count. No expense is involved; it's a balance sheet adjustment.
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