Question

Journalise the given transactions​

Answer 1

March 1

Cheque in hand A/c ... Dr - Rs 1980

Discount Allowed A/c ... Dr - Rs 20

• To Ramesh & Co. - Rs 2000

(Being recieved cheque for credit sales, discount allowed @1%.)

March 2

Bank A/c ... Dr - Rs 1980

• To Cheque in hand A/c - Rs 1980

(Being deposited cheque in hand in bank.)

March 5

Ramesh & Co. ... Dr - Rs 2000

Bank Charges ... Dr - Rs 10

• To Bank A/c - Rs 1990
• To Discount Allowed A/c - Rs 20

(Being cheque dishonoured, cash discount reversed and bank charges paid.)

March 20

Bank A/c ... Dr - Rs 2025

• To Ramesh & Co. - Rs 2010
• To Interest A/c - Rs 15

(Being Ramesh & Co. account settled.)

March 31

Bank Charges ... Dr - Rs 100

• To Bank A/c - Rs 100

(Being paid bank charges.)