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unit-4-other-subsidiary-books

Unit-4 Other Subsidiary Books

In this unit we intend to discuss most of the remaining subsidiary books including Journal Proper.

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What is a credit note?

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Learning Pundits Content Team

Written on Apr 16, 2019 2:29:24 PM

When a customer returns goods to the business, a statement called 'Credit Note' is issued to him. It contains particulars and the value of goods returned by him. The entries in Sales Returns Journal are made with the help of credit notes issued. While recording the account of sales returns, you must remember that if the original sales involve some trade discount, it is also adjusted in the value of goods returned.