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Q15: If a customer returns goods for credit, the selling company normally makes an entry...

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Accounting

Q15: If a customer returns goods for credit, the selling company normally makes an entry in the:

General journal.

Returns inwards journal.

Returns outwards journal.

Sales journal.

Q18: Al Madina traders return the goods worth $300 to Mars LLC. What journal entry will be recorded by Mars LLC to record the above transaction?

Dr. Receivables Cr. Sales

Dr. Sales Cr. Receivables

Dr. Sales Returns Cr. Receivables

Dr. Receivables Cr. Purchases

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