Question

JOURNAL ENTRIES

Goods purchased from sumit 40000/-

Goods returned to sumit 5000

Paid to sumit in full settlement 34500​

Answer 1

Answer:

1. Purchase a/c. Dr. 40000

To Sumit a/c 40000

2. Sumit a/c Dr. 5000

To purchase return a/c. 5000

3. Cash a/c Dr. 34500

Discount received a/c. Dr. 500

To sumit a/c 35000