Purpose inventory return portion of the entry

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Reference no: EM1312831

Journal entries to record sales return, inventory return, return of purchases.

On 3/22, Janet returned 4 of the robes to Randy because the silk linings had minor flaws. Randy issued a credit for $700 to Janet's Spa. Record this return of Janet's purchases on Randy's books.

1. Prepare the sales return portion of the entry for this sales return on Randy's books.

2. Prepare inventory return portion of the entry for this sales return on Randy's books

3. Record this return of purchases on Janet's books.

Reference no: EM1312831

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