Give journal entries for the following:
2017
May 1 Sold goods for 16,000 to Jagat.
May 10 Jagat settled his account at 5% discount by paying in cheque. Cheque
deposited in bank on the same day.
May 15 Bought goods for 10,000 af 5% cash discount, payment made by
cheque.
(Ans. Total of Journal ? 43,000
)
make full entry fast and get 5 stars with the mark of brillianist
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Answer:
may 1.
Jagat's. ......dr Rs. 16,000
to sale a/c Rs. 16,000
May 10.
bank a/c. Dr. rs. 15,200
discount Allowed. Dr. rs. 800
to purchase a/c. rs.16,000
may 15
purchase a/c. Dr. rs. 10,000
to bank a/c. rs. 9,500
to discount received rs. 500
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