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Goods returned to panjak 12,000 |
| Answer» At times it might be necessary to return a few goods back to a supplier when an\xa0order is received. This situation may arise due to the poor quality of\xa0products, inaccurate\xa0quantity, untimely delivery or other such reasons.Purchase\xa0returns are also called returns outward and an appropriate\xa0purchase\xa0returns or returns outward book is maintained for recording entries related to such books. All returns are primarily recorded in the purchase returns book unless the returns are not that frequent, in which case they are recorded in the\xa0journal. The journal entry to be passed in the case of purchase returns isCreditor A/c – Dr. XXTo Purchase return A/c XX\xa0\tIn the given query the entry will be: Pankaj A/c – Dr. 12,000 To Purchase return A/c 12,000\t\xa0 | |