Multiple choice

In which account,periodic total of sales return journal is posted?

  1. sales account

  2. purchase return account

  3. sales return account

  4. goods account
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The sales return journal records all returns of goods from customers. At the end of a period, the total of this journal is posted to the debit side of the sales return account in the general ledger. This account tracks the total value of goods returned, which is later deducted from gross sales.

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