Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 30 - No. 24)
What is the impact of a debit to the 'Sales Returns Account'?
Decrease in Inventory.
Increase in Inventory.
Decrease in Cash.
Increase in Accounts Payable.
Explanation
A debit to the 'Sales Returns Account' indicates goods returned. This increases inventory.
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