Question

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Answer 1

2020

July 1. Kumar a/c - - - - - Dr. 800

• To sales account - - - - -Cr. 800

(being goods sold on credit)

July 2. Purchases account - - - Dr. 900

• To Hima account - - - - - Cr. 900

(being goods purchases of Hema)

July 3. Sales return account - - - - Dr. 80

• To kumar account - - - - - Cr.80

(being goods returned by kumar).

July 4. David account - - - Dr. 750

• To sales account - - - - Cr. 750

(being goods sold to David).

July 5. Purchases account - - - Dr. 900

• To manahor account - - - - Cr. 900

(being goods purchased on credit)

July 6. Manahor account - - - Dr. 200

• To purchase return - - - - Cr.200

(being goods return to manahor).

July 6. Purchases account - - - Dr. 550

• To diya account - - - - Cr. 550

(being goods purchased from diya on credit)

July 7. Satya account - - - Dr. 500

• To sales account - - - - Cr. 500

(being goods sold to satya)

July 8. Sales return account - - - Dr. 50

• To satya account - - - Cr. 50

(being goods returned by satya)

July 9. Roy's account - - - Dr. 70

• To sales account - - - Cr. 70

(being goods sold to Roy).

July 10. Ganga account - - - Dr. 500

• To sales account - - - - Cr. 500

(being goods sold to Ganga).

July 11. Roy's account - - - Dr. 70

• To purchase return - - - Cr. 70

(being goods purchased by Roy is returned).

July 12. Purchase account - - - Dr. 900

• To diya account - - - - Cr. 900

(being goods purchased from diya on credit).

July 13. Diya account - - - Dr. 100

• To purchase return account - - - Cr. 100

(being goods returned to diya).

July 14. Purchase account - - - - Dr. 2000

• To Rena account - - - - Cr. 1800
• To Discount received - - - Cr. 200

(being goods purchased from Reena with trade discount).

July 15. David account - - - Dr. 1000

• Discount allowed account---Dr. 50
• To sales account - - - - Cr. 1050

(being the goods sold to David allowing 5% discount).

Calculation of trade discount -

Rena case,

• 2000 × 10 /100 = 200
• 2000 - 200 = 1800 (discount received)

David case,

• 1000 × 5 /100 = 50
• 1000 + 50 = 1050. (discount allowed).