Question
Download Solution PDFThe return of goods by a customer is debited to:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Sales Return Account.
Key Points
- The customer may return products they have purchased for a variety of reasons.
- This needs to be documented as a sales return in the books of accounts.
Important Points
| Date | Particulars | L.F | Debit | Credit |
| Sales Return A/c Dr. | xxxxx | |||
| To customer A/c | xxxxx | |||
| (being goods return by the customer) |
Sales Return A/c is a nominal account, and as per the golden rules of nominal account, debit all expenses and losses and credit all income and gains.
Customer A/c is personal account, and as per the golden rule of personal account debit the receiver and credit the giver.
Last updated on May 6, 2025
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