by Karen
(Scotland)
Business is a Hair Salon.
Customer buys a gift voucher ... total Gift Voucher sales for the week is £100.
I am recording - Credit in Gift Voucher Cash Book - where I put the money and debit Gift Voucher Account as a short term liability.
Customer sales for the week are £1000 - £900 in cash and £50 in Gift Vouchers.
Record Sales = debit sales - credit Cash Sales & credit Gift Voucher Cash Book
£50 of GV sold have been redeemed so I credit GV Cash Book £50 debit GV Account
The Gift Voucher Account is fine, liablity £80 but the cash book is not £100+£50-£50 , balance in GV Gift Voucher Cash Book £100
Where I have I gone wrong?
Comments for Gift Voucher Sales
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