Question

7. Journalise the following transactions2018 April 1 - Received an order for goods Rs 1, 20, 000 from M/S Gauri Shankar and sons.3 -Received order for goods from M/S Ranbir and Co of Rs. 5, 00, 000 along with the cheque for Rs 1, 80,000 as advance.5 -Placed order of goods with M/S Kohli and sons of Rs. 2, 50, 000 paidthem Rs 1,00,000 by cheque in advance.15- Goods of Rs. 20, 000 and furniture of the book value of Rs 10, 000destroyed by fire20 -Goods costing Rs 50, 000 were damaged in transit, a claim was madeon railway authorities for the same22 -Received from salesman Rs 60,000 for goods sold by him afterdeducting his travelling expenses Rs 4,00025 -Sold goods to Vishesh costing Rs 40,000 at a profit of 25% and allowedhim 10% trade discount and paid for cartage Rs 1,000 to be chargedfrom him28- Received a cheque of Rs 40, 000 from railway authorities in fullsettlement of claim for damage in transit​

Answer 1

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