Tag: sales book or sales journal

Quizzes (0) Questions (41)

Questions Related to sales book or sales journal

Multiple choice elements of accounts sub-division of journal - 2 (subsidiary books) sales book or sales journal introduction, meaning, types and advantages of subsidiary books meaning and types of subsidiary books

State with reasons whether the following statement is true or false:
The return of goods by a customer should be debited to Return Outward Account.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Return of goods by a customer is a Sales Return (Return Inward), which is debited to the Sales Return Account. Return Outward refers to the return of goods to a supplier (Purchase Return).