WAEC Accounting 2021 Objective — Question 9
Question 9 of 50 from the West African Examinations Council (WAEC) Accounting 2021 Objective paper, with the correct answer and a full explanation.
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Goods returned to the supplier is recorded in the accounts as: debit
- A. Sales Returns Account; credit Supplier's Account
- B. Purchases Returns Account; credit Supplier's Account
- C. Supplier's Account; credit Purchases Returns Account
- D. Supplier's Account; credit Purchases AccountCorrect
Explanation
For goods returned to a supplier, the accounting entry is debit Supplier's Account, credit Purchases Returns Account/Purchases Account.
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