Received from sam $50,000 and goods returned by him worth $10,000... How to journalize it !!!???
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cash received :
- cash 50000 (Dr.)
stock 50000 (Cr.)
2.
stock 10000(Dr.)
cash or
payable 10000(Cr.)
aboodsaeed223:
Ok sam has to be record in this transaction not just stock and i think its sales return operation !! Please if you know the explaination share it with me
Sam has to be recorded as it is ....when goods are returned it means stock should be increased..as whole amount is received from sam it means you have to returned cash to sam by the amount of goods returned and yes sale return a/c will be debited ....
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