Take out merchandise Retail Double entry bookkeeping with variable chart of accounts

Page: https://excel.hpage.com/bookkeeping.html Playlist: https://www.youtube.com/watch?v=JeP58mdijnU&list=PLKnGGx0Hz5xI The retailer withdraws merchandise worth 50,000 euros from inventory for resale. Two accounts are involved: Merchandise Inventory account and expense account Merchandise. This booking represents a reduction in inventory. The balance in the Merchandise Inventory account decreases and the amount in the Merchandise expense account increases. The amount recorded in the journal entry is deducted from the final balance. The amount specified in the journal entry is deducted from the P&L (profit and loss).