Which of the following is incorrect with regards to the sales return book?

Used to keep a list of all the invoices sent out to customers each day

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Referred to as a 'book of prime entry' or 'primary record'.

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A chronological listing of sales returns

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Records the value of goods returned to the business by buyers, dealt with by the issue of credit notes

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Solution

The correct option is A
Used to keep a list of all the invoices sent out to customers each day

A sales journal is used to keep a list of all the invoices sent out to customers each day.

Suggest Corrections

Similar questions

Rectify the following errors:

(a)	Credit Sales to Mohan Rs 7,000 were recorded in purchases book.
(b)	Credit Purchases from Rohan Rs 900 were recorded in sales book.
(c)	Goods returned to Rakesh Rs 4,000 were recorded in the sales return book.
(d)	Goods returned from Mahesh Rs 1,000 were recorded in purchases return book.
(e)	Goods returned from Nahesh Rs 2,000 were recorded in purchases book.

Rectify the following errors.

(a) Credit Sales to Mohan Rs. 7,000 were recorded in purchase book.

(b) Credit Purchase from Rohan Rs. 9,000 were recorded in the sales book.

(d) Goods returned from Mahesh Rs. 1,000 were recorded in purchase return book.

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