Question

January 10 Goods purchased from Vinit & company Rs.1250000 at 20% trade discount.

January 15 amount paid to Vinit & company by cheques Rs.400000.

January 19 Goods purchased from Vinit & company Rs.1000000 at 20% trade discount.

January 26 Cash paid to Vinit and company Rs.150000. ​

journal entry ​

Answer 1

Answer:

Journal

jan.10. Purchase account dr 1000000

To Vinit.&co. 1000000

(1250000-250000)

jan 15 Vinit &co. dr 400000

To bank a/c. 400000

jan 19 Purchase a/c. dr 800000

To Vinit &co. 800000

(1000000-200000)

jan.26. Vinit &co. dr 150000

To cash account. 150000