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Sale or Return Day Book and Sale or Return Ledger are known as 
  • a)
    Principal books 
  • b)
    Subsidiary books 
  • c)
    Memorandum books 
  • d)
    None of the above 
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Sale or Return Day Book and Sale or Return Ledger are known asa)Princi...
Memorandum Books:

Memorandum books are the books of original entry that record events or transactions that need to be substantiated with proper documentation. They are also referred to as auxiliary or subsidiary books. Sale or Return Day Book and Sale or Return Ledger are examples of Memorandum books.

Sale or Return Day Book:

Sale or Return Day Book is a memorandum book that records all sales transactions that are made on a sale or return basis. This book is maintained to keep track of the items that have been sold on a sale or return basis. It is a record of all goods sent out on a sale or return basis and all goods returned by customers.

Sale or Return Ledger:

Sale or Return Ledger is a memorandum book that records the details of goods sold on a sale or return basis. It contains all the information about the goods that have been sold on a sale or return basis, such as the date of sale, the quantity sold, the price per unit, and the name of the customer. This ledger also records the details of goods returned by customers.

Memorandum Books as Subsidiary Books:

Memorandum books are also referred to as subsidiary books as they support the entries made in the main books of accounts. The entries made in the memorandum books are later transferred to the main books of accounts. Memorandum books are not considered as the books of final entry, but they help in keeping the records accurate and up-to-date.

Conclusion:

To conclude, Sale or Return Day Book and Sale or Return Ledger are examples of Memorandum Books. They are not considered as the principal books of accounts, but they support the entries made in the main books of accounts. They help in keeping the records accurate and up-to-date.
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Sale or Return Day Book and Sale or Return Ledger are known asa)Princi...
Yes because this books are not prepare compulsory. And this books not affect our original books of account that's why we say them memorandum books
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Sale or Return Day Book and Sale or Return Ledger are known asa)Principal booksb)Subsidiary booksc)Memorandum booksd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
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