Accounting for sales returns

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Accounting for Sales Return

Introduction

Mostly in companies sales takes place when the title of sold goods is transferred from a seller to the buyer of that particular goods. One of the most debatable topics in the accounting domain is termed as 'Right of return'. To record and account the sales return would became a bone of contention between the management and the stakeholders of the business. The concept identifies some of the basic points that are how a business could maintain and take into account the sales of a product. In this sale the buyer possesses ...