BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -It is the statement sent by consignee to consignor which includes sales made by the consignee, expenses incurred on behalf of consignor, commission earned by consignee, any advance payment to consignor and balance due to consignor.

Detailed explanation-2: -On receipt of Account Sales the consignor shall make entries in his books of account and complete the Consignment account and the Consignee’s Account.

Detailed explanation-3: -The agent periodically sends a statement to the consignor called “Account sales”. It shows the sales made by the consignee, expenses incurred by him on behalf of the principal, commission earned by him as well as balance due to the principal.

Detailed explanation-4: -It is a periodical statement which a consignee prepares and sends to the consignor. This statement contains details of sales (whether cash or credit), Expenses incurred, and amount of commission which is due, goods destroyed in transit, advance remitted by him etc.

Detailed explanation-5: -Account sales is a statement specifying the price at which the goods are sold, the commission earned by the consignee, the expenses incurred by the consignee on behalf of the consignment and the net balance for which the consignee is liable. It is prepared by the consignee and does not have a fixed or specified format.