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ADJUSTING EVENT

This topic has 1 reply, 2 voices, and was last updated 8 years ago by Ken Garrett.

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January 27, 2018 at 7:02 am #433341
iza1
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How is credit notes issued for pre year end sales an adjusting event ? we didnt know that there is going to be sales return. so there is not evidence of event isnt it
January 27, 2018 at 4:50 pm #433446
Ken Garrett
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But if items are returned after year end it is evidence that the sale before year end was not ultimately successful. So the credit notes provides evidences that at year end the sale should not be included in revenue.
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