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If goods were returned to branch by the customers, the correct posting for this transaction...

Accounts - Principles of Accounts
JAMB 2010

If goods were returned to branch by the customers, the correct posting for this transaction is to debit?

  • A. branch debtor's account and credit head office account
  • B. head office account and credit branch stock account
  • C. branch stock account and credit branch debtors' account
  • D. branch cash account and credit branch stock account
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Correct Answer: Option C
Explanation

Debit branch stock account (stock have increased by what was returned) and credit branch debtors' account

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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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