Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

The return of goods by a customer should be debited to:?

user-image
Question added by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group
Date Posted: 2015/06/20
Sonia Younas
by Sonia Younas , Steward , Blackburn Rovers Football Club

Answer is B: Sales Returns Account will be debited.

Mansoor Bajwa
by Mansoor Bajwa , Accounts Officer , Sefam (Pvt.) Ltd

Return by customer should be debited to Sales return account. B option

Tranquilino Jr Rivera
by Tranquilino Jr Rivera , General Accountant , Enany Group of Companies

Answer is B. Sales Return account

Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option B is the right answer.

Samuel Loveday
by Samuel Loveday , Management Accountant , Mopheth Nigeria Limited

SINCE YOU CAN NOT ALTER THE SALES ACCOUNT AFTER A TRANSACTION HAS BEEN ENTERED ALL YOU NEED TO DO IS TO OPEN A SALES RETURNS ACCOUNT . THIS AMOUNT WILL BE CREDITED TO THE TRADING ACCOUNT IN OTHER TO DETERMINE THE ACCURATE TOTAL SALES.

Shazia Anees
by Shazia Anees , Assistant Manager Finance , Arham Trading Company

Option B ==================================

the answer to your question is B) Sales Return Account

Tanveer Hussain
by Tanveer Hussain , Accounts Manager , Kamran Group of Companies

Right answer is following here.

B) Sales return account 

 

Explanation: Sales return account (Dr.) and customer's account (Cr.)

Zehab Osman
by Zehab Osman , Accountant , Aldar Consultancy Co.

B---------------------------------------------------

Nishita George
by Nishita George , Audit Assistant

Sales returns accounts will be debited and customers account will be credited

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.