CBSE Class 11-commerce Answered
What is return
inward book? Explain briefly.
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
Expert Answer
Return inward book is known as sales return book. Sales return book is a subsidiary book which records goods returned by the customers (i.e. debtors) and which had been sold on credit. Sales return book does not record return of goods sold on cash basis nor does it record return of any assets sold. A credit note is issued to the customers (i.e. purchaser) when the goods purchased by them is returned. It is the basis (i.e. source document) for recording an entry in sales return book.
Answered by | 11 Jul, 2016, 06:49: PM
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ANSWERED BY EXPERT
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ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT