sale or return basis

[URDanka]

hmm..

Seller Books will prolly be

DR Cash
CR Sales

Purchaser
DR Asset
CR Cash

when purchaser pledges the goods..
one of two entries will occur depending upon his contract with the bank

Either

DR Cash
CR Accounts Payable

or Sale and leaseback of the asset (forming a loan situation)
DR Cash
CR Asset

then lease entries will occur
DR Asset
CR Accounts Payable (leaseback)

One of two entries will occur depending upon the type of pledge and who has it's custody.