Question

Journalise the following:
(a) Sold goods to Yamini costing ₹10,000 at cost plus 20%, less 10% trade discount.
(b) ₹15,000 due from Ramesh are not recoverable.
(c) Bought Office Furniture for ₹25,000 against cheque.

Answer 1

Answer:

a) yami ac dr 10800

to sales ac 10800

b) bad debts ac dr 15000

to ramesh ac 15000

c) furniture ac dr 25000

to bank 25000

Explanation:

in question a first add the 20 percent to to 10000 which will be 2000 i.e 12000 now less 10% td i.e 1200 answer will be 10800 and trade discount is never mentioned in journal entry only cash discount is mentioned

in question b ramesh has become insolvent means the money are bad debts now

in question c whenever the payment is done thru cheque we don't write cheque in entry instead of cheque we write bank

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