Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 42 - No. 35)
If a customer returns goods, what is the journal entry made in the sales returns journal?
Debit Sales Returns, Credit Accounts Receivable
Debit Accounts Receivable, Credit Sales Returns
Debit Sales, Credit Accounts Receivable
Debit Cash, Credit Sales Returns
Explanation
When goods are returned, Sales Returns increases and accounts receivable decreases.
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