What is another name for a purchase return?

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Solution

Another name for purchase return is return outwards.

Also read:

Cash Book

Purchase Book

Sales Book and Sales Return Book

Cash Flow Statement

Ledger in Accounting

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Pass necessary Journal entries' to rectify the following errors:

(i) Goods returned to Mahima for Rs 5,000, entered into Sales Returns Book.

(ii) Kajol returned goods worth Rs 2,000, entered into Purchase Returns Book.

(iii) A credit purchase of Rs 3,000 from Ravina was recorded through Purchase Returns Book.

(iv) Goods worth Rs 1,160 returned to Karishma, were recorded in Purchase Book as Rs 1,106.

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