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Query regarding Sales Return

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Query regarding Sales Return

  • This topic has 0 replies, 1 voice, and was last updated 10 years ago by Deelo.
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  • June 8, 2014 at 3:07 pm #175214
    Deelo
    Member
    • Topics: 6
    • Replies: 31
    • ☆

    John sold goods to Ruth in May 2009 with a list price of $98,000. John allowed a trade discount of 10%. Ruth returned goods with a list price of $3,000 on 31 May and returned a further $5,000 of goods at list price on 6 June as they were found to be unsuitable.

    How much should John record in the sales returns account at 31 May?

    A. $2,700
    B. $3,000
    C. $7,200
    D. $8,000

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