Question

Old machinery sold for Rs. 2,000 to Maneesh recorded through sales book as Rs. 1,800 and posted to the credit of Manish as Rs. 1,200. in this explain what is the wrong journal entry and correct and then the rectified.

Answer 1

proper journal entry will be,

cash account debit. 1800

discount allowed. Dr. 200

to machinery a/c. 2000

after rectifying, your journal entry will be,

Maneesh a/c. Dr. 800

to machinery a/c. 800

Answer 2

Explanation:

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