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Return Inwards and Outwards

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Return Inwards and Outwards

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  • January 28, 2021 at 12:00 pm #608345
    bryankhai
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    Are return inwards/outwards considered an asset? Since return inwards are goods sold coming back into the company then it should decrease receivables and increase the asset which is the reason why u debit the return inwards account? and return outwards are goods purchased which are going out of the company so you credit the return outwards account?

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