Please wait...
Contact Us
Contact
Need assistance? Contact us on below numbers

For Enquiry

10:00 AM to 7:00 PM IST all days.

Business Inquiry (North)

Business Inquiry (West / East / South)

OR

or

Thanks, You will receive a call shortly.
Customer Support

You are very important to us

For any content/service related issues please contact on this number

022-62211530

Mon to Sat - 10 AM to 7 PM

Goods returned by debtors are recorded in which subsidiary book and why?

Asked by Topperlearning User 11th July 2016, 4:49 PM
Answered by Expert
Answer:

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. Therefore, goods returned by debtors are recorded in sales return book.

Answered by Expert 11th July 2016, 6:49 PM
Rate this answer
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

You have rated this answer /10

Your answer has been posted successfully!

Chat with us on WhatsApp