Question

18. Enter the following transactions in the Journal of Puroshottar Ramchandra :
Bought goods of list price Rs. 10,000 at 15% trade discount from Priya.
(11) Paid to Priya in full receiving 4% cash discount.
(in) Bought in cash goods of list price Rs. 50,000 at 10% trade discount and 5%
cash discount
(iv) Sold in cash goods of list price Rs. 20,000 at 10% trade discount and 5% cash
discount
Ans. Total Journal Rs. 80,000.)​

Answer 1

Answer:

1)Purchase a/c. dr 8500

to priya. 8500

(Being goods purchase from priya)

2) Priya a/c. dr 8500

to cash a/c. 8160

to discount a/c 340

(being paid to priya)

3) Purchase a/c. dr 45000

to Cash a/c. 42750

to discount a/c. 2250

(Being goods purchase)

4)Cash a/c. dr 17100

Discount a/c dr 900

to sales a/c. 18000

(Being goods sale)

Hope it helps you