Question

2. Prepare sales account from the following transactions. 2018 Rs. Jan. 1 Sold goods to Saranya for cash 40,000 7 Sold goods to Kaviya and cheque received 25,000 20 Sold goods to Ranjith on credit 12,000​

Answer 1

Answer:

Sold goods to Dilip of the list price of ₹ 62,000 for ₹ 60,000.

5 Sold goods to Amrit Lal of the list price of ₹ 2,50,000 at 20% trade discount and 10% cash discount. Amrit Lal paid ₹ 1,20,000 immediately through a banker's cheque.

10 Paid cheque of ₹ 30,000 to Chaturvedi and availed discount 2%.

16 Purchased goods costing ₹ 2,00,000 from Hari & Co. Paid 75% immediately by cheque to avail 4% discount.

20 Sold goods to Vhsal Traders costing ₹ 40,000 at 25% profit, allowing 10% trade discount and 10% cash discount. Received 80% payment immediately by cheque.

26 Sold goods to Brij & Co. costing ₹ 50,000 at 40% profit, allowing 10% trade discount and 5% cash discount. Brij & Co. paid the full amount by cheque and availed cash discount.