PRC-1 · Chapter 8 · Question 92 of 100
The sales return day book was overcast by Rs. 1,200. What is the correcting journal entry?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Debit Suspense Rs. 1,200, Credit Sales Return Rs. 1,200
Explanation
An overcast sales return day book means the total transferred to the debit of the Sales Return account was too high. The correction credits Sales Return and debits Suspense.
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