Which of the following information is recorded in the returns outwards book?
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Correct Answer: Option A
Explanation:
Returns outwards are goods returned by the customer or business to the supplier. For the supplier, this results in the following accounting transaction: A debit (reduction) in revenue in the amount credited back to the customer.
Returns outwards are goods returned by the customer or business to the supplier. For the supplier, this results in the following accounting transaction: A debit (reduction) in revenue in the amount credited back to the customer.