Match the terms below with the correct definitions.
-Account used to record the reduction in sales due to either the physical return of goods or defective goods
A)FOB destination
B)Sales Returns and Allowances
C)Controlling account
D)Accounts receivable ledger
E)Subsidiary ledger
F)Purchases journal
G)Sales invoice
H)FOB shipping point
I)General journal

Question

Quizplus · Accepted Answer

Sales Returns and Allowances is the account used to record the reduction in sales due to either the physical return of goods or defective goods.

Match the Terms Below with the Correct Definitions