Question

One fourth of the 40000 goods returned by jaya at original price plus IGST@12%

Answer 1

* entry before return of goods

cash account Dr. 40,000

cash account Dr. 40,000 to sales account. 35,200

output I.G.S.T. 4,800

* entry at the time of return

sales return account. Dr. 10,000

input I.G.S.T. dr. 1,200

to cash account. 10,000

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