The Sales Return & Allowances Journal is a special journal that is used to record the returns and allowances of goods sold on credit.
Steps in Journalizing Returns Inwards
The following Returns Inwards transactions are Journalised below:
July 6 Goods returned from Yule Terry $ 10
July 13 Returned goods from Jerry Hulle $20
July 26 Returns Inwards from Larry Hadman $30