IndigoLearn

Forums

Doubt.

When goods are sold on sale or return basis and that goods are returned by customer why don't we pass journal entry for taking the returned goods into closing stock?. Pls give clarity .


Sri kanaga Varshini

Sri kanaga Varshini

CA Inter

1K+

25-Oct-20 22:15

20

Answers (2)

Closing stock is taken through trading account. Closing Stock A/c Dr. To Trading A/c


Suraj Lakhotia

Suraj Lakhotia

Admin

26-Oct-20 09:43

Closing stock is taken through trading account. Closing Stock A/c Dr. To Trading A/c

Sir But we didn't pass this journal entry when goods are returned . Sales return A/c Dr . To trade receivables A/c Dr. This journal entry alone is passed . Still I misunderstood something sir pls give clarity


Sri kanaga Varshini

Sri kanaga Varshini

CA Inter

1K+

26-Oct-20 18:06

Happy Mother's Day
IL Pass percentages
Tally Free
Quote
Refer
EMI
Lazypay
Past_Exams