Question

Journal entry _16)tushar returned goods rs 250

Answer 1

Answer:

sales return a/c ......Dr.250

To Tushar a/c 250

Explanation:

as during sales we credit sales a/c ..goods return means sales return..sales return a/c is always debited.

Answer 2

Answer:

Explanation:

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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Reason for debit and credit

Purchases return - real A/c , where goods goes out of the company , therefore its credited

ramesh & Bros A/c - personal A/c , where ramesh & bros is receiver of goods , therefore its debited.

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Journal entry

Ramesh & Bros A/c Dr 1500

To Purchases return A/c 1500

(being purchased goods returned )