wht will be the tratment for the following adjustment..??

goods costing rs. 20000 were sent to a customer for rs.2400 on 30 march 2011 on sale or return basis. this was recorded as actual sales.

Question

wht will be the tratment for the following adjustment ??
goods costing rs 20000 were sent to a customer for rs 2400 on 30
march 2011 on sale or return basis this was recorded as actual
sales

Monika Sharma · Accepted Answer

↵Hi
Muskan,

The following is the accounting treatment of the above
adjustment

I In Trading Account

Rs 2,400 should be subtracted from the amount of Sales
Rs 2,000 should be added in the amount of Closing Stock

II In Balance Sheetâ€‹

Rs 2,400 should be deducted from the amount of debtors
as it is assumed to be credit sales
Rs 2,000 should be added to Closing Stock in the
Balance Sheet

Hope this clarifies your doubt
Keep Posting!!!

wht will be the tratment for the following adjustment..?? goods costing rs. 20000 were sent to a customer for rs.2400 on 30 march 2011 on sale or return basis. this was recorded as actual sales.

wht will be the tratment for the following adjustment..??

goods costing rs. 20000 were sent to a customer for rs.2400 on 30 march 2011 on sale or return basis. this was recorded as actual sales.