Question

4. Enter the following transactions in the Journal of Marutinandan :
2005
Jan. 10 Purchased goods from Ghanshyam of the list price of Rs. 50,000 at 15% trade
discount
13 Returned goods to Ghanshyam of the list price of Rs. 2,000.
15 Paid cash to Ghanshyam Rs. 40,000 in full settlement of his account.
20 Purchased goods from Raghu of the list price of Rs. 60,000 at 10% trade discount.
22 Returned goods to Raghu of the list price of Rs. 5,000.
25 Paid cash to Raghu Rs. 49,000 in full settlement of his account.
[Ans. Total Rs. 1,93,000. Cash discount on Jan. 15 Rs. 800 and on Jan. 25 Rs. 500)

Answer 1

Answer:

jan.10

purchase a/c dr. 50000

to ghanshyam 42500

to trade discount a/c 7500

13.

ghanshyam dr. 2000

to purchase returna/c 2000

15.

ghanshyam dr. 40500

to cash ac 40000

to discount received ac 500

20.

purchase ac dr.60000

to raghu 54000

to trade discount ac 6000

22.

raghu dr. 5k

to purchase return ac 5k

25.

raghu ac 49k

to cash ac 49k

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