Question

Journal
Building worth 9,00,000 sold for 7,50,000. Brokerage on sale is 2%.

Answer 1

Answer:

Cash A /c Debit 7,50,000 -----

Profit and loss A/c debit 1,80,000 -----

To building A/c credit ----- 9,00,000.

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Answer 2

Answer:

cash a/c debit 7,35,000

brokage on sale a/c debit 15,000

loss on building a/c debit 1,50,000

To building a/c credit 900000