Good purchase of Rs.115500 from mohit @ 1.5% T.D
& 3.5% C.D
Answers
Answer:
The following are the transactions that took place between X and Y during the period from 184
January 2004 to 30th June 2004:
Rs.
Balance due to X by Y as at January 1,
6,020
Goods sold by X to Y January 17,
8,840
Goods sold by Y to X on February 16 (Invoice April 1)
12,960
Goods returned by X to Y on February 18
(Out of the goods purchased on February 16)
1,120
Goods sold by Y to X on march 24 (in voice may 1)...
7,120
Bills drawn by Y on XAT 3 months , Accepted by the latter on April 22, 3,000
Cash paid by X to Y on April 29,
5,000
Goods sold by X to Y on may 17 (invoice June 1)
5,420
Goods sold by Y to X on June 22 (invoice August 1)
4,560
Draw up an account up to June 30 2004 to be rendered by X to Y charging interest at 18 per
cent per annum according to (a) Forward method (b) Epoque Method.