a) define a service; sales price =your commission +taxes (if applicable) b) no entry in stock as the goods do not belong to you. c) when you cash in the sale, debit bank for 100%, credit customer account for the net amount due d) pay the customer. in case the said customer is doing other (normal) operations with your company, it would be safe to create a specific account payable for these consignment transactions; why not a specific journal if they occur often.
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|Asked: 3/27/13, 6:55 PM|
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|Last updated: 3/16/15, 8:10 AM|