Question

a) prepare the account of mr.small as it would appear in the books of mr.big (journal entry)
March 1 : debit balance brought forward ₹3000 in journal entry​

Answer 1

Explanation:

Journal

In the books of Mr. Small

Purchases Account. dr.1500

to Mr. Big. 1500

(being goods purchased on credit)

In the books of Mr. Big

Mr. Small. dr.1500

to Sales Account. 1500

(being goods sales on credit)