Question

Journalise the following

Answer 1

Answer:

• (i) Received from Bharat cash Rs 20,000, allowed his discount of Rs 500.
• (ii) Received from Vikas Rs 35,000 by cheque, allowed him a discount of Rs 750.
• (iii) Received from Akhil Rs 38,000 in settlement of his dues of Rs 40,000 in cash.
• (iv) Received from Amrit Rs 50,000 by cheque on account against dues of Rs 60,000.
• (v) Paid cash Rs 40,000 to Suresh, availed discount 2%.
• (vi) Paid by cheque Rs 25,000 to Mehar and settled her dues of Rs 26,000.
• (vii) Paid Rs 25,000 to Yogesh by cheque on account.
• (viii) Purchased goods Costing Rs 1,00,000 Against cheque and availed discount of 3%.
• (ix) Purchased goods costing Rs 60,000 from Akash & Co., paid 50% immediately availing 3% discount.
• (x) Sold goods of Rs 30,000 against cheque allowing 2% discount.
• (xi) Sold goods of Rs 60,000 to Vimal received 50% of the due amount allowing a 2% discount.