Accounting for IGCSE & O level - Accounting Procedures (Section 16 - No. 42)
What is the impact of a refund on a trade receivable account?
Increases the balance.
Decreases the balance.
Has no impact on the balance.
Increases cash in the bank
Explanation
A refund decreases the balance of the trade receivable account as it reduces the amount owed by the customer.
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