Question

Pass Journal entries in the books of Puneet, Delhi for the following:
(a) Received an order from Karan & Co. for supply of goods of 50,000.
(1) Received an order from AK & Co. for goods of 1,00,000 along with a cheque for
*25,000 as advance.
(ii) Paid to staff 40,000 against outstanding salary of * 60,000.
(iv) Sold goods to Bharat, Kaithal (Haryana) of 10,000 plus IGST @ 12% out of which
1/5th were returned being defective.
(o) Cheque of * 20,000 issued by Feroz was dishonoured.
(vi) Received 40 paise in a rupee from Feroz against the above dues.
(vii) Received a cheque of 25,000 from Mohan after banking hours.
(viii) Purchased goods from Barun of Chandigarh of * 10,000 plus IGST @ 12% and sold
them to Arun of Shimla (HP) at 22,400, including IGST @ 12%.​

Answer 1

Answer :

( a ) Karan & Co. A/C Dr 50,000

To sales A/C 50,000

( I ) AK & Co. A/C Dr 75,000

Bank A/C Dr 25,000

To sales A/C 1,00,000

( II ) cash A/C Dr 40,000

Outstanding salary A/C Dr 20,000

To salary A/C 60,000