What’s sales reruns What is purchesh reruns Who is a credited What is debit or

Question

Accepted Answer

Sales returns are products that customers return to the company for various reasons.

Sales returns refer to the products that customers return to the company.
These returns can occur due to various reasons such as product defects, customer dissatisfaction, or incorrect shipments.
Sales returns are recorded as a reduction in revenue and accounts receivable.
They are typically accompanied by a credit memo or refund to the customer.
Examples of sales returns include returning a faulty electronic device or returning a wrong-sized clothing item.

Accepted Answer

1/2) The difference between purchase return and sales return is that purchase return is used for recording those items or goods purchased from the supplier that are returned to the supplier. While sales return refers to items or goods that are returned by a customer to the business.

Accepted Answer

Sales returns A/C Dr

To bills receivable A/C cr.

Bills payable A/C Dr

To purchase returns A/C cr.

Accepted Answer

What is a sales return? A sales return is when a customer or client sends a product back to the seller.

Sales Returns A/C DR

Accounts Receivable A/C Cr

A purchase return is when a buyer (either a business or an individual) returns goods that they bought to the seller for a refund or store credit, depending on the seller's policy.

Accounts Receivable A/C Dr

purchase returns A/C Cr

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What’s sales reruns What is purchesh reruns Who is a credited What is debit or

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