Question

Journalise the following transactions : (i) Goods Distroyed by fire * 500 (ii) Goods sold for 3 8,000 at 10% T. D. and 3% C. D. for cash sales (iii) Paid wages * 3,000 (iv) Paid for Repairing * 1,000​

Answer 1

Explanation:

i)Loss due to fire A/C. Dr

To purchases A/C

ii)Cash A/C. Dr. 33174

trade discount A/C 3800

cash discount A/c 1800

To sales A/c 38000

iii)Wages A/c Dr 3000

To cash A/c 3000

iv) Repairs A/c Dr 1000

To cash A/c 1000