Pur chase treatment

452 views 2 replies

Hi,

Aruna here can any one help in this case

in a busniess one customer has come and purchased some material worth of 10k now the next day he comes to the stores n he is the first customer he returns all the materials purchased he demands for immediate cash

how do u treat this transaction??

Replies (2)

First day book cash sale in book of accounts of the business and other day pay cash to the customer by debiting Sales Return and credit to cash

accounting entry for ur above query

cash    Dr

to sales

( Being  cash sales made)

sales return     dr

to cash

( Being cash paid to customer in pursuance of return of material)

regards,

ratan


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register