Journal Entry for Sales

Journal Entry for Sales

Journal entry for sales shall be recorded by crediting the sales being increase in income and debiting the cash/bank/receivable account (as case may be).

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Cash/Bank/Receivable		xxx
01-01-2017	Sales			xxx

The sales for organization may be incurred in three ways

1.    Cash Sales.

2.    Sales receipt through bank.

3.    Credit Sales.

Journal Entry Cash Sales

Journal entry for cash sales shall be recorded by crediting the sales income and debiting the cash being increase in asset.

Date	Particular	Ledger Folio	Dr.	Cr.
01-01-2017	Cash		xxx
01-01-2017	Sales			xxx

Journal Entry for Sales through bank

Journal entry for Sales though bank shall be recorded by crediting the sales being increase in income and debiting the bank account.

Date	Particular	Ledger Folio	Dr.	Cr.
31-01-2016	Bank		xxx
31-01-2016	Sales			xxx

Journal Entry for Credit Sales

Journal entry for credit sales is recorded by debiting the individual account and crediting the sales income.

Date	Particular	Ledger Folio	Dr.	Cr.
01-03-2015	Debtor		xxx
01-03-2015	Sales			xxx

In the above all three transaction sales was credited as increase in income.