Question

Journalise the following transactions in the books of M/s. R.K. & Co.:
Purchased goods of list price of 20,000 from Vishal at 20% trade discount against
cheque payment.
m Purchased goods of list price of 20,000 from Naman at 15% trade discount against cash.
(0) Purchased goods of list price of 30,000 from Amrit at 20% trade discount.
til Purchased goods of list price of 40,000 for 35,000 for cash.
to) Goods returned of list price of 10,000 purchased from Amrit.
In) Sold goods to Parul of list price of 40,000 at 10% trade discount against cheque payment.
tru) Sold goods to Aman of list price of 30,000 at 10% trade discount against cash.
(ein) Sold goods to Pawan of list price of 20,000 at 10% trade discount.
) Sold goods to Yamini of list price of * 25,000 for 23,000.
Sold goods costing * 10,000 at cost plus 20% less 10% trade discount to Bhupesh.
() Sold goods purchased at list price of 50,000 less 15% trade discount sold at a profit
of 25% less 10% trade discount against cheque.
Aman returned goods of list price of 10,000 sold to him at 10% trade discount.
.
Journaliste
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Answer 1

Answer:

Please see the attachment for details of Journal Entries

Explanation:

21699aa1dbd703c797e9536c9511d46d.xlsx

Answer 2

The correct journal entries are -

1. Purchase A/c Dr. 16,000

To Cash A/c 16,000

2. 1. Purchase A/c Dr. 17,000

To Cash A/c 17,000

3.1. Purchase A/c Dr. 24,000

To Amit A/c 24,000

4. 1. Purchase A/c Dr. 35,000

To Cash A/c 35,000

5.Amit A/c Dr. 8,000

To Purchase Return A/c 8,000

6.Bank A/c Dr. 36,000

To Sales A/c 36,000

7.Cash A/c Dr. 27,000

To Sales A/c 27,000

8.Pawan A/c Dr. 18,000

To Sales A/c 18,000

9.Yamini A/c Dr. 23,000

To Sales A/c 23,000

10 Bhupesh A/c Dr. 10,800

To Cash A/c 10,800

11. Bank A/c Dr. 47,812.50

To Sales A/c 47,812.50

12. Sales Return A/c Dr. 9,000

To Aman A/c 9,000