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Answers
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).