Accountancy, asked by krishnacps5545, 7 months ago

98. How in Cash Discount recorded III
PRACTICAL PROBLEI
Simple Journal Entries
1. Pass necessary Journal entries for the following transa
2020
April 1 Business started with cash
April
2 Goods purchased for cash.....
April 3 Goods purchased from Pankaj on credit
April 5 Goods sold to Naresh on credit
April 7 Goods retumed to Pankaj
April 9 Goods retumed by Naresh
April 10 Cash paid to Ajay
April 12 Commission received
April 15 Furniture purchased
April 16 Rent paid to Amit
April 19 Sold goods to Sumit for cash
April 24 Cash sales
30 Cash received from Naresh on account
April 30 Salanes paid​

Answers

Answered by SnowyPríncess
2

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

2018

Apr 01

Cash A/c

Dr.

1,00,000

To Capital A/c

1,00,000

(Started business with cash)

Apr 02

Bank A/c

Dr.

20,000

To Cash A/c

20,000

(Paid into bank)

Apr 03

Purchases A/c

Dr.

50,000

To Cash A/c

50,000

(Goods purchased)

Apr 04

Cash A/c

Dr.

10,000

To Bank A/c

10,000

(Drew from bank for office use)

Apr 13

Krishna A/c

Dr.

15,000

To Sales A/c

15,000

(Goods sold)

Apr 20

Purchases A/c

Dr.

22,500

To Shyam A/c

22,500

(Goods purchased on credit)

Apr 24

Cash A/c

Dr.

12,500

Discount Allowed A/c

Dr.

500

To Krishna A/c

13,000

(Received from Krishna)

Apr 28

Shyam A/c

Dr.

22,500

To Cash A/c

21,500

To Discount Received A/c

1,000

(Paid to Shyam)

Apr 28

Sales Return A/c

Dr.

2,000

To Krishna A/c

2,000

(Goods returned by Krishna)

Apr 30

Cash A/c

Dr.

80,000

To Sales

80,000

(Cash sales for the month of April)

Apr 30

Rent A/c

Dr.

5,000

To Cash A/c

5,000

(Paid rent)

Apr 30

Salary A/c

Dr.

10,000

To Cash A/c

10,000

(Paid salary)

hope it helps you

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