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WAEC Financial Accounting 2011 Question 19

Question 19

Books of Original Entry

Goods returned by the buyer is recorded in the seller's books as

  1. A.carriage inwards
  2. B.carriage outwards
  3. C.returns outwards
  4. D.returns inwards
Show the answer and explanation

Answer: D (returns inwards)

Explanation

Goods coming back to the seller from a customer are returns inwards (sales returns).