05-28-2009, 01:21 PM
AOA,
What is the different between simple sale and the sale or return basis. Please explain fully with journal entries. Accounting period is 11-12-92 to 31-12-92
For example,
goods with customers on sale or return basis were 50,000(proforma invioce value) The goods had been sent on 9-12--92, the customer has right to return the goods during four weeks but it was known that on customer who had goods worth 20000 had pledge them with a bank.What will be the journal entries in both the accounting period Does sale or return bais includ in the sale which is given in the question.
What is the different between simple sale and the sale or return basis. Please explain fully with journal entries. Accounting period is 11-12-92 to 31-12-92
For example,
goods with customers on sale or return basis were 50,000(proforma invioce value) The goods had been sent on 9-12--92, the customer has right to return the goods during four weeks but it was known that on customer who had goods worth 20000 had pledge them with a bank.What will be the journal entries in both the accounting period Does sale or return bais includ in the sale which is given in the question.
