Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 33 - No. 11)
When goods are returned, what is the debit and credit made in accounting?
Debit Sales Revenue and Credit Accounts Receivable
Debit Accounts Receivable and Credit Sales Revenue
Debit Sales Returns and Allowances and Credit Accounts Receivable
Debit Accounts Receivable and Credit Sales Returns and Allowances
Explanation
Debit Sales Returns & Allowances and credit accounts receivable in the general ledger.
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