Question

5. Journalise the following transactions in the books of Kunal Stores.
2018
August 1 Purchased goods of 90,000 at 10% Trade Discount and 10% Cash Discount from
Rakesh and 1/3rd amount received by cheque.
5 Opened current account in State Bank of India by depositing 60,000.
8 Cash purchases * 85,000.
10 Goods sold on credit to Tushar *20,000 @ 10% Trade Discount.
12 Paid Salary 4,000.
16 Tushar returned goods of 250.
17 Goods taken by Kunal for his private use * 2,000.
20 Purchased Laptop of 40,000 from Joshi Electronics @18% GST and paid by cheque.
22 Rent paid by cheque 15,000.
25
Purchased Motor car worth 2,00,000 for cash @ 18% GST and paid by Bank.
26 Goods distributed as free sample 4,000.
28 Purchased goods from Amit of 60,000 on credit.
30 Paid by ECS cash to Amit 58,500, who allowed us discount * 1,500.
30 Sold goods * 5,000 at a loss of 1,000
31 Sold goods for 20,000.​

Answer 1

2018 August 1 Dr. Cr.

Purchase Account Dr. 81000

To Bank A/c. 24300

To Rakesh A/c 48600

To discount A/c. 8100

(Being goods purchase by cheque on 10% T.D.)