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Commerce · Q78

Accounting

Graduate and Post Graduate · Commerce · question 78

Q78

Which of the following specialized journal records "goods returned by the business"?

A.
Purchase journal
B.
Sales journal
C.
Purchase return journal
Answer
D.
Sales return journal

Answer: Option C

Solution

Answer: Option C
Solution:
Purchase return journal records "goods returned by the business". The Purchases Returns Book is written up from the credit notes received from the suppliers.