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 Form 4 Business Studies lessons: Source documents and books of original entry

Purchases returns journal(returns outwards journal) as a book of original entry

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Answer Text:
Purchases returns journal(returns outwards journal) as a book of original entry:
-it is used to record goods returned to suppliers or creditors by the business before they are posted to the debit side of individual creditor’s accounts in the purchases ledger.
- at the end of the month, total purchases returns is posted to the credit side of the purchases returns accounts in the general ledger.
-source document used is credit note received.


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