Hi friends
If X LTd. sells a TV to Mr. Y for rs. 50000.
it is found to be defective and X Ltd. replaces it to Y with a new TV
what will b the entries in books of X LTd. and Y
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Replacement of goods
Replies (4)
We can treat is as Sales Return so that Inventory also effected accordingly.
dear sir
if we get a sale return of an item due to some defect and which we know will not sell now, then how will we make its treatment in books.
what will be the entry and treatement in tally.
If there is any provision maintained for guaranteed amount first adjust with that amount estimated loss incurred for recovered product...
Dear Madam
Sales Return A/c Dr
To: S. Debtors
Net Result: Sales+ Tax due will reduce to that extent & Out Standing i.e receivable from the Client will reduce to that extent .
Hope the abvoe clarifies.
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