Question

goods returned by naresh 12,000 (journal ledger)​

Answer 1

Answer:

sales return a/c Dr

to Naresh a/c

Answer 2

Journal Entry

Sales Returns A/c -----dr            12,000

To Naresh's A/c                                        12,000

(being goods sold returned by the debtor)

In this question,

•The goods that were sold on credit earlier are being returned by that customer who eventually became our debtors.

•The sales returns or allowance account is to be debited to decrease the sales made and increase the goods returned and the debtor's account needs to be a credit to decrease the money that is due to him.

•This is considered a loss to the firm as the goods sold came back to the firm decreasing the amount that is due to be received by the firm.

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A similar question can be checked for further understanding.

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