Question

nathan returned goods worth 2000 -journal entry​

Answer 1

Answer:

sale return a/c. dr. 2000

To. Nathan. 2000

Answer 2

The sales return account will be debited and Nathan's account will be credited.

• A journal entry is the record of the financial transaction of a business in its financial books.
• The transactions of a business are recorded in a journal, which indicates the debit and credit balances.
• These specific entries can help in the authentication of transactions and also helps to know if they are supported with bills.
• In the given statement, the goods are being returned by a customer which is Nathan
• Since he is a customer thus sales return will be used instead of the purchase return.
• Thus, the correct journal entry will be -

Sales return A/c        Dr. 2,000

To Nathan A/c                 2,000

( Being the goods retured by Nathan )

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