Hi Sir,
when there is a return inwards in trial balance,should'nt we minus revenue and receivables?the BPP revision kit only deducted revenues only.. thanks
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Return inwards double entry
11y ago#1Returns inwards do reduce both receivables and revenues.
I cannot explain why BPP on reduce one of them without seeing the whole question.
However, if there is a balance on returns inwards in the trial balance (and the trial balance balances) then it will mean that the entry has already been made i.e. debit returns inwards and credit receivables. (so receivables will have been reduced already)
Sir,you are right.Thanks!
11y ago#3You are welcome :-)
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