Background Information

- On 15th March, goods worth ` 50,000 were sent to a customer on a sale or return basis.
- The customer has a period of four weeks to approve or return the goods.
- The customer returned 40% of the goods on 10th April and approved the rest.
- The customer was billed on 16th April.

Explanation

Sale or Return Basis
- Sale or return is a method of selling goods where the customer has the option to return the goods within a specified period if they are not satisfied.
- The customer is given a trial period to evaluate the goods and decide whether to keep them or return them.

Sending Goods on Sale or Return Basis
- On 15th March, goods with a sale value of ` 50,000 were sent to the customer on a sale or return basis.
- This means that the customer has the option to return the goods within the specified period of four weeks if they are not satisfied with them.

Return of Goods
- On 10th April, the customer returned 40% of the goods.
- This means that out of the total value of ` 50,000, goods worth 40% of ` 50,000 = ` 20,000 were returned by the customer.

Approval of Rest of the Goods
- The customer approved the rest of the goods, which means that they decided to keep them.
- The value of the goods approved by the customer can be calculated as the total value of goods sent minus the value of goods returned.
- Value of goods sent = ` 50,000
- Value of goods returned = ` 20,000
- Value of goods approved = ` 50,000 - ` 20,000 = ` 30,000

Billing
- The customer was billed on 16th April for the goods approved by them.
- The billing amount would be the value of the goods approved, which is ` 30,000.

Summary
- On 15th March, goods worth ` 50,000 were sent to the customer on a sale or return basis.
- On 10th April, the customer returned goods worth ` 20,000 and approved the rest.
- The customer was billed on 16th April for the approved goods, which had a value of ` 30,000.

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