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Answer Posted / h.r. sreepada bhagi
Purchase Return - Goods purchased earlier returned to the
Supplier. Supplier needs to return the value of the goods
returned or supply some other goods or replacement for the
goods received to settle the account of the purchaser
(Business Unit/Firm/Company).
Sales Return - Goods sold earlier returned by the customer
(buyer). Seller needs to refund the money to the customer or
supply some other products or replace the returned products
with new ones to settle the account of the buyer(Business
Unit/Firm/Company).
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