Social Sciences, asked by naeem135, 7 months ago

Refund is liabilty account payable or Aset

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Answered by Anonymous

3

ANSWER➖

In accounting, refunds are handled through a contra-revenue account known as the sales returns and allowances account, reports Accounting Coach. When you issue a refund, you make a refund double entry, which means you must adjust two separate accounts in your records.

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Answered by MonicaDivya

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