Question

deepak sold goods on behalf of Geep Sales Corporation on consignment basis.

On Jan. 1,1992, he had with him a stock of X 20,000 on consimment. During the year, he

received goods worth X 2,00,000.

Deepak had instructions to sell the goods at cost plus 25% and was entitled to a

commission of 4% on sales addition to 1% del credere commission.

During the year ended 31st December 1992, cash sales were X 1,20,000 credit sales X

1,05,000. Deepak’s expenses relating to consignment ` 3,000 being salaries and insurance

Bad Debts ` 3,000.

From the above prepare necessary accounts in the books of Geep Sales Corporation.​

Answer 1

Answer:

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Explanation:

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