Goods worth Rs 1,00,000 were sold to Piyush on credit. He returned the goods of the value of Rs 50,000. Whose account shall be credited & with what amount in this case?

Sales return account with Rs 50,000

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Sales return account with Rs 1,00,000

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Piyush`s account with Rs 50,000

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Piyush`s account with Rs 1,00,000

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Solution

The correct option is C
Piyush`s account with Rs 50,000

In case of sales return, debtor`s account is credited with the amount of return i.e. Rs 50,000.

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Goods worth Rs 1,00,000 were sold to Piyush on credit. He returned the goods of the value of Rs 50,000. Whose account shall be credited & with what amount in this case?

The correct option is C Piyush`s account with Rs 50,000 In case of sales return, debtor`s account is credited with the amount of return i.e. Rs 50,000.

The correct option is C
Piyush`s account with Rs 50,000

In case of sales return, debtor`s account is credited with the amount of return i.e. Rs 50,000.