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Hi. Just want to clarify as one of the substantive procedures for receivable is
Inspect credit notes/sales return to determine whether additional allowance is required. Why not to ensure that these are properly reflected in correc sccounting period, thereby ensuring proper cut-off treatment.
They amount to the same thing. The y/e journal for credit notes/sales returns after the y/e in respect of sales before the y/e would be:
Dr Revenue $x
Cr Trade receivables $x$x might be described as an allowance for credit notes.
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