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The debit note issued are used to prepare
- a)Sales return book
- b)Purchase Return Book
- c)Sales book
- d)Purchases book
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
The debit note issued are used to preparea)Sales return bookb)Purchase...
Purchase returns book is maintained to record the transactions of goods returned to the supplier which were purchased on credit.
Whenever, such purchases are to be returned a debit note is issued by a seller as an advise of the amount of returns by the buyer with the complete details of the purchases to be returned.
Whenever, such purchases are to be returned a debit note is issued by a seller as an advise of the amount of returns by the buyer with the complete details of the purchases to be returned.
Most Upvoted Answer
The debit note issued are used to preparea)Sales return bookb)Purchase...
Debit note is prepared when materials are returned to the supplier informing him that his account has been debited.
So Debit note is used to record transactions in the purchase return book.
So Debit note is used to record transactions in the purchase return book.
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The debit note issued are used to preparea)Sales return bookb)Purchase...
Explanation:
Debit notes are issued by a buyer to inform the seller about the return of goods or an overcharge in the invoice amount. These notes are used to adjust the amount payable to the seller. In accounting, debit notes are used to prepare the Purchase Return Book.
Why Purchase Return Book?
- The Purchase Return Book is used to record all the goods returned to the suppliers.
- Debit notes issued for purchase returns are recorded in this book.
- It helps in maintaining accurate records of returns and adjustments in the purchase transactions.
Role of Debit Notes in Purchase Return Book:
- Debit notes issued for purchase returns are recorded in the Purchase Return Book to track the returned goods and the corresponding adjustments in the accounts.
- The details such as the date of return, quantity, description of goods, reasons for return, and the amount to be adjusted are recorded in the Purchase Return Book using the information from the debit notes.
Conclusion:
In conclusion, debit notes issued for purchase returns are used to prepare the Purchase Return Book in accounting. This book helps in maintaining accurate records of returns, adjustments, and ensures that the accounts are updated with the correct information regarding purchase transactions.
Debit notes are issued by a buyer to inform the seller about the return of goods or an overcharge in the invoice amount. These notes are used to adjust the amount payable to the seller. In accounting, debit notes are used to prepare the Purchase Return Book.
Why Purchase Return Book?
- The Purchase Return Book is used to record all the goods returned to the suppliers.
- Debit notes issued for purchase returns are recorded in this book.
- It helps in maintaining accurate records of returns and adjustments in the purchase transactions.
Role of Debit Notes in Purchase Return Book:
- Debit notes issued for purchase returns are recorded in the Purchase Return Book to track the returned goods and the corresponding adjustments in the accounts.
- The details such as the date of return, quantity, description of goods, reasons for return, and the amount to be adjusted are recorded in the Purchase Return Book using the information from the debit notes.
Conclusion:
In conclusion, debit notes issued for purchase returns are used to prepare the Purchase Return Book in accounting. This book helps in maintaining accurate records of returns, adjustments, and ensures that the accounts are updated with the correct information regarding purchase transactions.
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The debit note issued are used to preparea)Sales return bookb)Purchase Return Bookc)Sales bookd)Purchases bookCorrect answer is option 'B'. Can you explain this answer?
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The debit note issued are used to preparea)Sales return bookb)Purchase Return Bookc)Sales bookd)Purchases bookCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The debit note issued are used to preparea)Sales return bookb)Purchase Return Bookc)Sales bookd)Purchases bookCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The debit note issued are used to preparea)Sales return bookb)Purchase Return Bookc)Sales bookd)Purchases bookCorrect answer is option 'B'. Can you explain this answer?.
The debit note issued are used to preparea)Sales return bookb)Purchase Return Bookc)Sales bookd)Purchases bookCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The debit note issued are used to preparea)Sales return bookb)Purchase Return Bookc)Sales bookd)Purchases bookCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The debit note issued are used to preparea)Sales return bookb)Purchase Return Bookc)Sales bookd)Purchases bookCorrect answer is option 'B'. Can you explain this answer?.
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