Sales Returns Books Format
Sales Returns Book is also an example of Special Journal . Here, from the point of seller o nce the sold goods to buyer or customer ( Accounts Receivable ), then the buyer may find that some goods unsatisfactory or lower quality or goods damaged during in transit or the order is not according to the buyer’s order, then buyer sends the goods to the seller intimating him the reason of returning the goods and requesting him for replacing goods. This intimation from the buyer to the seller is called Debit N ote. In such case, if the seller accepts the request of the buyer, then he informs to the buyer by sending a Credit N ote. In this way, Sales Return takes place. The Accounting Department also receives the copy of Credit N ote and pass following Accounting Journal Entry in the Sales Returns Book or Journal of business as shown below: Sales Returns Journal Entry ...