JAMB - Accounts Principles Of Accounts (2012 - No. 18)
In sales ledger control account, returns inwards is usually
debited and debtors credited
credited and sales returns debited
debited and cash credited
credited and bank credited
Explanation
Remember sales ledger control accounts keeps count of all sales made on credit. If a customer returns goods that were sold on credit, we debit sales returns account and credit returns inwards
Comments (0)
