Question
Asked Nov 4, 2019

When a general journal is used to record sales returns, the credit of the entry must be posted twice. Does this cause the trial balance to be out of balance? Explain.

 

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Trial balance will not be out of balance. As we know that at t...

Accounts Titles and Explnation Debit( S) Credit (S)
Sales returns
Date
хXхXX
Accounts receivable
ххххX
Merchandise inventory
Cost of goods sold
XXXXX
хххXX
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Accounts Titles and Explnation Debit( S) Credit (S) Sales returns Date хXхXX Accounts receivable ххххX Merchandise inventory Cost of goods sold XXXXX хххXX

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