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What is the journal entry purchase return in the books of
Purchase
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Answer / rajesh
Entry for Purchase Return (Credit Note )
Dr Sales Return
Cr XXX ( Party name )
Entry for Sales Return (Debit Note)
Dr XXX (Party Name)
Cr Purchase Return
| Is This Answer Correct ? | 86 Yes | 47 No |
Answer / narasimha rao
in purchaser or trader books
supplier a/c dr
to purchase returns
in seller or suplier
sales return a/c dr
to trader a/c
| Is This Answer Correct ? | 41 Yes | 3 No |
Answer / ravichandra
For purchase
purchases a/c dr
to seller a/c
in the books of seller
purchaser a/c dr
to sales a/c
| Is This Answer Correct ? | 77 Yes | 42 No |
Answer / hanumantha
In the Purchase Book:
Debit the Vendor xx
Credit the Purchase Return
In the Sales Book:
Debit the sales Return
Credit the Customer xx
| Is This Answer Correct ? | 40 Yes | 7 No |
Answer / sai
Supplier A/c Dr xxxxx
To Purchase Returns A/C xxxx
or ( Post the item of Accounts Ledger)
( Narration : Purchase of Inv.No: XXXXX / DT XXXXX Total
Qty 100 Return to Qty 50 @ Rs. xxxxx Ref : Return Inv.no:
xxxx/Dt xxxxx)
Sales Return A/C Dr xxxxx
To Seller A/C xxxxx
| Is This Answer Correct ? | 24 Yes | 3 No |
Answer / kris
Purchase Return:
Vendor A/c Dr
To Purchases A/c Cr
Sales Return:
Sales A/c Dr
Buyer A/c Cr
| Is This Answer Correct ? | 29 Yes | 16 No |
Answer / bijoy ghosh
Creditors A/c...............Dr. xxx
To Purchse return/ Return outward a/c /xxx
(Being amount of purchase of Rs.xxx, returned for damage to the creditors)
| Is This Answer Correct ? | 14 Yes | 2 No |
Answer / waqas abrar
Most of fellas have made many mistakes. Its quite simple
mates !!!
Payable Control A/c : Dr XXX
Purchase Returns A/C: Cr XXX
Sales Return A/C: : Dr XXX
Receivable A/C : Cr XXX
Receivable and Payable ledgers are not part of double entry
system. The cumulative totals are posted to nominal ledger.
Whereas in ledger accounts we make each and every entry in
customer or supplier account.
Cheerio
Waqas Abrar
waqas_abrar893@yahoo.com
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / mushtaq ahmed
purchase:
a/c receivable dr
purchase return cr
sales:
sales return dr
a/c receivable cr
| Is This Answer Correct ? | 13 Yes | 10 No |
Answer / ritu
Purchaser:
Party A/C dr
To Pur Return
(Being In . No:....Dated....of Qty... return to party )
Seller :
Sale Return A/C dr
To Party A/C
(Being In . No:....Dated....of Qty...recevied from party)
| Is This Answer Correct ? | 2 Yes | 1 No |
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