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Sales Orders

Inventory Item Sold

An inventory item with a cost of $70 is sold for $100

Journal entry for an inventory item sale

Customer Payment

A customer payment is revived for an order.

Journal entry for a customer payment

Received Credit Return Item

A customer returns an item and it is received back into inventory.

Journal entry for a customer return received into inventory

Customer Payment Refunded

A customer payment is refunded.

Journal entry debiting Accounts Payable and crediting Scrapped Inventory

Inventory Item Sold and Payment

An inventory item with a cost of $70 is sold for $100 and the customer immediately pays.

Journal entry for an inventory item sold and paid immediately

Non-Inventory Item Sold

A non-inventory item with a cost of $70 is sold for $100.

Journal entry for a non-inventory item sale

Service Item Sold

A service item with a cost of $70 is sold for $100.

Journal entry for a service item sale

Miscellaneous Item Sold

A miscellaneous item with a cost of $70 is sold for $100.

Journal entry for a miscellaneous item sale

Discounted Item Sold

A $100 inventory item is discounted by 10% and sold for $90.

Journal entry for a discounted item sale

Drop Ship Item Sold

An inventory item is purchased for $70, and sold for $100, and then drop-shipped directly to the customer.

Journal entry for a drop ship sale