Will the following entry will be passed in sales return book ? & If yes then what will be recorded ?
"Rebate allowed to keshari Lal on account of mistake in invoice rs 440 ? "
Moksh,
Allowing rebate on account of mistake in invoice is similar to the practice of providing a credit note to the customer for the excess price being charged. Accordingly, this would be recorded in Sales Return Book with the excess price so charged, i.e Rs 440.
Allowing rebate on account of mistake in invoice is similar to the practice of providing a credit note to the customer for the excess price being charged. Accordingly, this would be recorded in Sales Return Book with the excess price so charged, i.e Rs 440.