Question

a credit purchase of rs 1040 from ramesh was passed in the books as 1400 (rectification of error)​

Answer 1

Answer:

Ramesh A/c.........dr. 360(1400-1040)

To Purchases A/c. 360(1400-1040)

Explanation:

Right Entry:-

Purchases A/c.........dr. 1040

To Ramesh A/c. 1040

Wrong Entry:-

Purchases A/c..........dr. 1400

To Ramesh A/c. 1400

Rectified Entry:-

Ramesh A/c............dr. 360(1400-1040)

To Purchases A/c. 360(1400-1040)