Question

Lakshman return the goods worth rs.500 what is the journal entry?

Answer 1

the word journal is derived from the French word "jour" which means a day

journal is a book of Daily Records and their recorded in a systematic manner


the transactions are recorded in chronological order or date wise order

journal is called as primary books books of original entry or books of primary entry

internal all the business transactions are recorded systematically on the basis of sources documents by debiting one account and credit in another account

Answer 2

seller ac dr 500
To goods return ac 500