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What is the journal entry purchase return in the books of
Purchase
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Answer / fozia chachar
(1) If the purchases is made on cash basis then the entry will be:
Cash debit
Purchases return credit
(2) But if purchases is made on credit basis then the entry will be:
Accounts payable debit
Purchases returns credit
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Answer / sufi
Purchaser
Vendor...A/c Dr
To Purchase return
Seller
Sales Return..A/c Dr
To Supplier or Account Receivable
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / nadim
Sundry creditor a/c dr
To purchase return a/c
Sales return a/c dr
To sundry debtor a/c
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pandugade
it is a
supplier a/c dr/..
to.purchase returns a/c
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / muthu
how did adjest revversal credit in dis allowed stock
| Is This Answer Correct ? | 0 Yes | 1 No |
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