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Meshwari returned the goods

Asked by adityasinghsisodiya3 25th May 2019, 8:13 PM
Answered by Expert
Answer:
When goods are returned they are termed as purchases returns for the purchaser and sales returns for the seller of the goods.
Purchaser will reduce such amount of goods returned from  the gross purchases  in the trading account and the seller will reduce such amount of goods returned from gross sales in trading account in order to indicate the correct amount of closing stock available after such return of goods.
Answered by Expert 26th May 2019, 11:53 AM
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