Cash sales returns
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annefoth
Registered Posts: 39
How are cash sale returns and cash purchase returns shown in the general ledger
also for any sale or purchase where payment is made and then subsequently returned how would this show on the general ledger
also for any sale or purchase where payment is made and then subsequently returned how would this show on the general ledger
0
Comments
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Cash Sale Return: Credit Bank - Debit Sales Returns
Cash Purchase Return: Debit Bank - Credit Purchase Returns.
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Thanks
Sorry to be obtuse but would that be taking into account payment made or received
How would the refund made or received be shown in the ledger?0 -
The following are the entries for sale and purchase returns:
1) Sales Return:
Sales Return a/c....Dr
To Bank/Cash a/c
2) Purchase Return:
Bank/Cash a/c...Dr
To Purchase Return0
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