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Refund in cash to credit customers

Hi
This scenario has come up on one of the green light questions and I'm stumped.

Please can someone walk me through the journals when a refund in cash is made to a credit customer. The question in particular wanted to know what the impact (if any) would be on the Purchase Ledger and/or Purchase Ledger Control Account.

Thanks

Comments

  • N4TN4T AAT Student Posts: 191
    I would say none. It'll be your sales ledger that would be affected not purchase ledger. Customers = sales ledger, suppliers = purchase ledger.
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