Question

Returned goods worth rs 550 to Prashant​

Answer 1

Explanation:

Prashant a/c Dr. 550

To Purchase return a/c 550

Answer 2

The Answer is as follows:

Explanation:

It is given that Goods worth of Rs.550 returned to Prashant.

Goods could be purchased on account or for cash and a person can return these goods if there are some defective items.

The Journal entry for returning the goods is as follows:

Prashant Accounts  Debit. Rs. 550

             To Purchase Return          Rs. 550

(To record the goods returned to Prashant)

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