Question

2
A of Sonepat consigned 500 bicycles to B of Cochin to be sold on his account and at his risk. The cost of
one bicycle was 200. A paid 5,500 as freight and insurance and received 40,000 as advance from B. B
paid 1,000 as octroi and carriage, 1,500 as rent and 1.200 as insurance. 410 bicycles were sold by B for
1,10,000. B was entitled to a commission of 5% on sale @250 per bicycle and 25% of any surplus price
realized. Give journal entries in the books of A and B.
D4 - 1907 VI.​

Answer 1

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