Sir purchase return and sales are credit balance? but sir sales should be a debit balance so is purchase return?
2 question – A purchase return of $48 has been wrongly posted to the debit balance of the sales returns account , but has been correctly entered in the supplier’s account. which of the following statement about the trial balance would be correct? The debit side to be $96 more than the credit side.. sir shouldn’t it be credit side to be $96 more than the debit side because purchase return is debited..so to correct it we will credit 48 (2 times) and in supplier account it has been debited..