Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 31 - No. 35)
Which of the following correctly represents the journal entry for a customer returning goods purchased on credit?
Debit Sales Revenue, Credit Accounts Receivable
Debit Accounts Receivable, Credit Sales Revenue
Debit Sales Returns, Credit Accounts Receivable
Debit Accounts Receivable, Credit Sales Returns
Explanation
The Sales Returns account is debited, and Accounts Receivable is credited in a sales return.
Comments (0)
