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Can anyone tell me the treatment of SALE ON APPROVAL BASIS. In this question
Answers (19)
Vijay K
I hope you get it. If not please ask me. I have written the entries only for sale on return.
Is that trade receivables?
Vijay K
This is mine, can you show me yours.
Bro, 40% of goods returned will be already included in that 50,000( stock as on 15th april). So you should add only the remaining 60% of 8000 i.e. 4800. Finally, 4800 should be added instead of 8000. Other than that all steps are correct.
Dharani Chakravarthi
Bro, 40% of goods returned will be already included in that 50,000( stock as on 15th april). So you should add only the remaining 60% of 8000 i.e. 4800. Finally, 4800 should be added instead of 8000. Other than that all steps are correct.
Yes bro you are right, thank you for identifying the mistake.