Goods of value 2000 returned by mr. gupta were entered in sales book and posted therefrom to the credit of his account. rectify
Answers
Answer:
s/r . . . a/c dr 2000
sales. . . a/c dr2000
to suspense a/c 4000
Explanation:
mr. gupta entry entered in sales book so now rectified.
The journal entry is as follows:
Explanation:
The correct journal entry for sales return is as follows
Sales Return A/C Dr. 2000
To Mr Gupta 2000
(Being goods returned recorded)
Wrong entry passed being,
Suspense A/C Dr. 4000
To Sales 2000
To Mr Gupta 2000
Reverse of wrong entry would be;
Sales A/C Dr. 2000
Mr Gupta A/C Dr. 2000
To Suspense A/C
Comparing the correct entry with reverse of the wrong entry, we deduce the rectification entry which is as follows:
The rectification entry would be:
Sales Return A/C Dr. 2000
Sales A/C Dr. 2000
To Suspense A/C 4000
(Being sales return wrongly recorded as sales now rectified)
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