Question
Q15: If a customer returns goods for credit, the selling company normally makes an entry in the: General journal. Returns inwards journal. Returns outwards journal.
Q15: If a customer returns goods for credit, the selling company normally makes an entry in the:
General journal.
Returns inwards journal.
Returns outwards journal.
Sales journal.
Q18: Al Madina traders return the goods worth $300 to Mars LLC. What journal entry will be recorded by Mars LLC to record the above transaction?
Dr. Receivables Cr. Sales
Dr. Sales Cr. Receivables
Dr. Sales Returns Cr. Receivables
Dr. Receivables Cr. Purchases
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Financial Accounting Theory
Authors: Craig Deegan
2nd Edition
0077126734, 978-0077126735
