The correct answer is: D. Sales return journal
A sales return journal is a specialized journal that records sales returns. A sales return is a transaction in which a customer returns goods to a business for a refund or credit. Sales returns can occur for a variety of reasons, such as if the customer is not satisfied with the product, if the product is damaged, or if the customer received the wrong product.
A sales return journal is used to track sales returns and to ensure that they are properly recorded in the accounting system. The journal typically includes the following information:
- The date of the sales return
- The customer’s name and address
- The product(s) being returned
- The reason for the return
- The amount of the refund or credit
The sales return journal is then used to update the customer’s account balance and to record the decrease in sales revenue.
The other options are incorrect because:
- A purchase journal records purchases of goods or services by a business.
- A sales journal records sales of goods or services by a business.
- A purchase return journal records returns of goods or services that a business has purchased from another business.