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Answer Posted / tawfeeq yousuf
When the purchaser returns the goods to the seller the
Purchaser sends a Debit Note to the seller (ie. the
purchaser debits the seller in his books ie. Purchasers
Books) and the Seller sends a Credit Note to the purchaser
(ie. the seller credits the Purchaser in his Books ie.
Sellers Books).
Following are the JVs to be passed:-
Sales Return inward A/c Dr.
To Debtor A/c
(Being goods returned by the customer)
Creditor A/c Dr.
To Goods Return A/c
(Being goods sent back to the seller)
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