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ACCA Applied Knowledge · Financial Accounting · Sales and purchases

Which one of the following is recorded in the sales returns day book of a business?

The sales returns day book records credit notes issued to customers for returned goods. Credit notes received from suppliers belong in the purchases returns day book, while customer invoices go in the sales day book and cheques received are recorded in the cash book.

  1. AA credit note issued to a customer for goods returnedCorrect
  2. BA credit note received from a supplier for goods returned
  3. CA cheque received from a customer
  4. DAn invoice sent to a customer for goods sold on credit

Explanation

The sales returns day book lists credit notes issued to customers for goods they have returned. Credit notes received from suppliers go in the purchases returns day book. Invoices to customers go in the sales day book, and cheques received go in the cash book.

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