Either cash sale or credit, we need to reduce cash or account receivable accounts and reduce the revenues. Accounting for sales return is mainly concerned with revising revenue and cost of goods sold previously recorded. Account receivable or cash and cash equivalents should also affect whether it is the cash sale or credit sales. There...

I think the example sections should have a brighter background color scheme. The introduction and explanation of the concepts are fairly well done and they make good use of challenges faced by contemporary companies. It would help if the answers to problems or exercises were on a different page or indexed in the back of...