Goods returned to a supplier is

Assessment: WAEC SSCE - Financial Accounting - 2015 (Objective) Subject: Financial Accounting

Question 1 Report

Goods returned to a supplier is

Answer Details
When goods are returned to a supplier, it means that the buyer is returning the goods to the supplier due to various reasons, such as defects or incorrect delivery. Therefore, the accounting entry for this transaction should reflect the change in the buyer's account and the supplier's account. The buyer's account should be credited and the supplier's account should be debited. In this case, the correct option is "Credited to returns outwards account."
Read lesson note on Cashbook (JAMB)
Read lesson note on Nature And Significance Of Accounting (JAMB)
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