Acaydia School of Aesthetics LLC Merchandising Company Operations Response

Please respond to nathin with 180 words

In general, the recording process for merchandise operations is pretty similar to the recording process for service-type operations. When recording accounting for merchandising operations, it is important to consider that purchases and sales are made using cash or credit on account, merchandise transactions are usually recorded when goods are received from the seller, the purchase invoice must support each credit purchase, and the sales invoice must support each credit sale. Discounts may occur in the event of prompt payment on the consumers part or if a consumer is dissatisfied with a product and wishes to employ a purchase allowance. Shipping costs for products need to be figured out in order to realize who will pick up the cost of shipping, whether it be FOB destination, (sellers cost), or FOB shipping point, (buyers cost).