Question

Amar sends goods of 50,000 on consignment to Samar and incurred 2,000 on freight, forwarding etc. The terms are that Samar will receive 10% ordinary commission and 2% del credere commission on credit sales. Samar sells 3/4ths of the goods for 45,000 (including credit sales of 10,000). Customer Rakesh (to whom goods were sold on credit) failed to pay 2,000. The consignee's selling expenses were 1,000. Give journal entries in the books of Samar assuming that the balance due was sent by bank draft.

Answer 1

Answer:

Remittance to Amar rs 39300

note: bad debt rs 2000 will be