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Commerce · Q2565

Accounting

Graduate and Post Graduate · Commerce · question 2565

Q2565

Goods worth Rs. 24,000 were returned by X. The accountant, however, credited the sales returns account by Rs. 42,000. In order to rectify this error, what should be done?

A.
Debit the sales return account by Rs. 42,000
B.
Credit the sales return account by Rs. 24,000
C.
Debit the sales return account by Rs. 66,000
Answer
D.
Debit the sales return account by Rs. 18,000

Answer: Option C

Solution

Answer: Option C
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