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Sales Returns Day Book

Forums › ACCA Forums › General ACCA Forums › Sales Returns Day Book

  • This topic has 2 replies, 3 voices, and was last updated 12 years ago by taha1959.
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  • April 24, 2013 at 7:38 am #123378
    futuredark
    Member
    • Topics: 8
    • Replies: 0
    • ☆

    Could you please help me the following? Which one is correct?
    Sales returns day book – Returns of goods sold on credit
    OR
    Sales returns day book- Returnes of goods sold (Both cash and credit)

    April 24, 2013 at 7:57 am #123380
    victorlin
    Member
    • Topics: 1
    • Replies: 3
    • ☆

    has to be both cash and credit. coz the principle is to account for net sales.
    sales is total cash n credit sales

    April 24, 2013 at 4:31 pm #123414
    taha1959
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    sales returns is accounting for both sales credit or cash while in credit sales you will crediting the customer a/c & cash a/c in cash sales

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