subsidiary sales ledger?

think I have the right answer for this but I need second thought
Identify the entry in subsidiary sales ledger (amount, debit, credit) as stated:

Customer: K & L Trading’s

Credit Note Number: 236

Credit Note Total: 240

VAT: 40

Net Goods: 200

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One Response to “subsidiary sales ledger?”

  1. Michael says:

    A credit note issued to a customer will result in a credit to the customers account in the sales ledger. The amount credited will include the VAT so would be £240.

    Sales ledger 240 CR
    Sale returns 200 DR
    VAT 40 DR

    This effectively reverses the original sales entry.

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