questions 15.7 & 15.8 in BPP kit F3,
CASH REFUNDS TO CREDIT CUSTOMERS increase AR
REFUNDS RECEIVED FROM SUPPLIERS increase AP
im confused in these answers
why?
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10y ago#1A cash refund to a customer is repaying cash to a customer (maybe the customer has accidentally paid too much and so we repay it). So credit cash, debit receivables.
The other way round for payables.
I suggest that you watch my free lectures because it is explained in full in the lectures.
(Our lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well)
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