A sales account contains the record of all sales transactions. This includes both cash sales and credit sales. The account total is then paired with the sales returns and allowances account to derive the net sales figure that is listed at the top of the income statement.
The sales account concept can also refer to a current customer. Once sales are made to a customer, it is known as a sales account.
Author: Rev. Porsche Oberbrunner
Last Updated:
Views: 6633
Rating: 4.2 / 5 (53 voted)
Reviews: 92% of readers found this page helpful
Name: Rev. Porsche Oberbrunner
Birthday: 1994-06-25
Address: Suite 153 582 Lubowitz Walks, Port Alfredoborough, IN 72879-2838
Phone: +128413562823324
Job: IT Strategist
Hobby: Video gaming, Basketball, Web surfing, Book restoration, Jogging, Shooting, Fishing
Introduction: My name is Rev. Porsche Oberbrunner, I am a zany, graceful, talented, witty, determined, shiny, enchanting person who loves writing and wants to share my knowledge and understanding with you.