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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 .
Answers (2)
CA Suraj Lakhotia Admin
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
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