SALES RETURNS DAY BOOK

The ledger recorded sales return which is merchandise sent back by a buyer to the seller

PURCHASE RETURNS DAY BOOK

The ledger recorded purchases returns which is when goods bought on credit are returned by the business to its suppliers.

Template of the ledger

EXAMPLE

Suppose that on 9 Jan, P & J ltd returns the item to us that we sold to them on 5 Jan, and we issue them a credit note. We would then record that transaction in the sales returns day book (SRDB). At the end of a period, this too is totalled an posted to the general ledger.

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