Topic Content:
- Illustration – Return Outward Day Book
Illustration 4.4.1:
Enter the transaction below in the books of Jonathan:
Feb 5: | Returned to Lopez: 5 Rulers @ ₦50 each 6 Big notes @ ₦70 each Trade discount (2.5%) |
Feb 18: | Returned to Olisa: 6 Shoes @ ₦30 each 12 Shirts @ ₦20 each Trade discount (5%) |
Required:
(i) Prepare Return Outward day book
(ii) Post items to the ledger
Solution:
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