1.

Entry of sales return

Answer»

3 golden RULES


personal accounts - debit the RECEIVED and credit the giver

real accounts -debit what comes in and credit what comes out

nominal accounts - debit all the expenses and losses, credit all the income and gains


as per the question 2 accounts affect sales returns account and (creditor) account


sales returns account - Nominal account

Creditor account - Personal account


by applying the golden rules ,


JOURNAL entry


sales returns A/c DR

           To Creditor A/c

(Being returned sales goods )



Hope its useful..!






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