Question

b.com discuss details contained in sales book?​

Answer 1

ANSWER :

Sales Book is also known as Sales Journal or Sales Invoice Book or Sales Day Book.

• ✎ Sales book contains the transactions related to credit sales of goods which a business deals in.

• ✎ Sale of goods made in cash is not recorded in Sales Book. Moreover, sale of an asset whether it is in cash or on credit is not recorded in a Sales Book.

The following columns are generally drawn in a Sales Book :-

• ➺ Date : The date of preparation of the invoice is written under this column. An invoice is prepared as and when goods are sold on credit.

• ➺ Outward Invoice Number : The invoice prepared as and when goods are sold on credit is called outward invoice. Each of such invoice is serially numbered and the number mentioned in the invoice which is used to record the transaction is written under this column.

• ➺ Particulars : In this column, the name and the address of the party to whom the goods have been sold on credit as well as the description of the goods sold, trade discount allowed, expenses charged etc. are recorded.

• ➺ Ledger Folio : As each and every transactions of sales book is posted in the ledger, the folio number (or page number) of the ledger where the transaction has been posted to the individual debtor's account is written under this column.

• ➺ Amount (Details) : The details of quantity of the goods, price of the goods, trade discount allowed, expenses charged (if any) etc. are recorded under this column.

• ➺ Amount (Total) : The total amount receivable from the particular debtors on the credit sale of goods as shown in the Amount (details) column is written under this column.