15. On June 10, 2016 Pradeep Co. of Kanpur sent 100 boxes to Gagan of Allahabad. Cost price of the goods was
7,500 but it was invoiced so as to earn a profit of 25% on sale price. Pradeep Co. paid = 600 for freight and
insurance. On July 1 Gagan paid * 1,000 for Octroi and 3 200 for other expenses and sent a bank draft of 7 4,000
as advance in return. On 15 July, Gagan sold 80 boxes for 10,500. Gagan has to receive 5% commission on
sales. Open Consignment A/c and Gagan A/c in the books of Pradeep Co.
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Answer:Prepare a Purchase Book in the books of M/s Modern Furniture House, Lucknow ... June 05. Mohan Lal & Company, Kanpur. 20 Godrej Chairs @ ₹ 2,000 each ... (1) In Purchases Book, we record only the credit purchase of goods, so ... in Journal Proper for Freight Charges payable on May 02, 2017 and May 10, 2017.
Explanation:
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