Book of first entry

 Good day dear learners!

Kindly click the link below to access today's lesson, which is Books of first entry. Listen to the video and leave a comment in the comment section. Ask questions where you do not understand. 

https://youtu.be/g9myBvsbIG8?si=ACuV2M-pP0yVPwGhd

Thank you for listening!

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Topic 6: Returns journal: sales returns journal

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 We have two types of returns in the business, which  are: sales returns journal and purchases returns journal but today we will learn about sales returns journal. Sales returns is when the customer returns goods to the business. Also called returns inwards  What is Debtors returns journal? Is a book of first entry used for sales returns( when customers returns goods) This journal also has other uses:  It provides the total sales returns amount for the month.  It reduces the number of entries in the sales returns account  It provides the sales returns figure needed to draw up control accounts. For inventory control purpose. Format of Debtors returned journal Click on the link to see recording transactions in the Debtors returns journal  https://youtu.be/g5TBUx8867U Good luck!!
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