Accounting for IGCSE & O level - Accounting Procedures (Section 23 - No. 20)
What is the impact on the Sales Ledger Control Account of a customer returning goods?
The account is debited.
The account is credited.
The account balance is unaffected.
The account is closed.
Explanation
When a customer returns goods, the amount owed by the customer decreases, requiring a credit entry in the Sales Ledger Control Account.
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