15. Journalise the following transactions in the books of Bhushan Agencies:
(1) Received cash from Bharat rs 20,000, allowed him discount of rs 500.
(2) Received from Vikas rs 35,000 by cheque, allowed him discount of rs 750.
(3) Recevied cash from Akhil rs 38,000 in settlement of his duties of of rs 40,000.
(4) received from Amrit RS 50,000 cheque on account againts Dues of rs 60,000.
(5) paid cash rs 39,200 to suresh in settlement of his dues, availed discount of rs 2%.
(6) paid by cheque rs 25,000 to mehar in settlement of her dues of rs 26,000.
(7) paid rs 25,000 to yogesh by cheque on account.
(8) purchased goods costing rs 1,00,000 against cheque and availed discount of 3%.
(9) purchased goods costing rs 60,000 Aakash and co.paid 50% immediately availing 3% discount.
(10) sold goods of rs 30,000 against cheque allowing 2% discount.
(11) sold goods of 60,000 to Vimal received 50% of due amount allowing 2% discount.
(12) Mittal Bros. purchase 100 shawls @ rs 3,000 per shawl.allowed 10% trade discount and 3% cash discount if payment is made within 14 days. Mittal Bros. received 10 shawls of poor quality, which it returned. Mittal Bros. settled the payment in 10 days.
(13) sold to gupta shawls, 100 shawls @ rs 200 per shawl on 4th January, 2020.Trade discount 25% and cash discount 5% if full payment is made within 14 days .Gupta shawls sent 50% of the payment on 14th January, 2020 and balance payment on 10th February, 2020. [ Hint: Gupta shawls will not get cash discount as full payment is not made by it within 14 days.]
Answers
Answer:
In the books of Buushan Agencies
JOURNAL
Cash dr 19,500
Discount Allowed dr 500
To Bharat 20,000
Bank dr 34,250
discount allowed dr 750
To vikas 35,000
Cash dr 38,000
Discount Allowed dr 2,000
To Akhil 40,000
Bank dr 50,000
due / bad debts / (whatever ac; check your book) dr 10,000
To Amrit 60,000
Suresh dr 39,200
To Discount Received 784
To Cash 38,416
Mehar dr 26,000
To Bank 25,000
To Discount Received 1000
Yogesh dr 25,000
To Bank 25,000
Purchases dr 1,00,000
To bank 97,000
To discount Received 3,000
Purchases dr 60,000
To discount Received 900
To bank 29,100
To Akash 30,000
Discount Allowed dr 600
Bank 29,400
To Sales 30,000
Bank dr 29,400
Vimal dr 30,000
discount allowed dr 600
To Sales 60,000
Mittal bros dr 2,40,000
Sales Return dr 30,000
To Sales 2,70,000
Bank dr 2,32,800
Discount allowed dr 7,200
To Mittal bros 2,40,000
Gupta Shawls dr 7,500
Bank dr 7,500
To Sales 15,000
Bank dr 7,500
To Gupta Shawls 7,500
(I hope my answer was helpful for you!!! please mark my answer the brainliest. it really took me long to solve this. I would really appreciate it!!!)