Retail
Sales Return Provision — End of Period
Estimating and provisioning for returns expected in the next period on current-period sales.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Sales Returns & Allowances (Estimated) | Contra-Revenue (+) | 3,500.00 | - |
| Allowance for Sales Returns | Contra-Asset (+) | - | 3,500.00 |
💡 Accountant's Note
Under IFRS 15, variable consideration (expected returns) must be estimated and deducted from revenue. For high-return categories (fashion, electronics), this is material and auditor-scrutinized.
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