Question

Journalise sold goods to mayank of 100000, payable 25% by cheque at the time of sale and balance after 30 days of sale

Answer 1

Bank a/c. 25000
Mayank a/c. 75000
To sales a/c. 100000

Answer 2

At the time of Sale :

Bank A/C Dr Rs.25,000

Mayank A/C Dr 75,000

      To Sales A/C Rs.1,00,000

(Being goods to Mayank and 25% of the payment received by cheque)

After 30 Days:

Bank A/C Rs.75,000

    To Mayank A/C Rs.75,000

(Being balance received from Mayank)