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Purchases Returns

Considering a transaction of credit purchases, the two elements effected would be the Purchases a/c and the Vendor a/c. Purchase of stock, being an expenditure, the Purchases a/c is debited and the Vendor being the benefit giver the Vendor a/c is credited. Therefore in recording a transaction of Purchase Returns, the Vendor a/c is debited and the Purchases a/c is credited.

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