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Subsidiary books

Accountancy

If purchase is on cash basis But return is on credit basis the where to record in subsidiary books??? (i.e it can happen that someone returned goods but we didn't pay them back now but later)

joshi dilip

CA Foundation

★ 10

05-Apr-20 15:37

443

Answers (2)

Purchase book(subsidary book) If u purchase the good in credit basis than it should be written in purchase book. Purchase Return book (subsidiary book) : If u return the good purchased in credit basis than it should be written in purchase return book. Sales book(subsidiary book) If u sold good in credit basis than it should be written in sales book. Sales return book(susidiary book): If some one return the goods that was sold by u in credit basis than it should be written in sales return book.