Question

. Pass the journal entries in the books of Hari :
2010
Dec 5 Sold goods to Kamal of the list price 70,000 less trade discount 20%
Dec 9 Kamal returned goods of the list price 5,000.
Dec 14 Kamal paid us * 51,000 in full settlement of account.
Dec 20 Sold goods to Ram 40,000 at a trade discount of 10% and cash discount 2%.
Ram paid 1/4th amount in cash.​

Answer 1

Answer:

Explanation:

1. Accounts Receivable of Kamal.dr 56,000

   Sales Acc..........cr 56000

2. Sales Account.......dr 5000

    Acc. receivable of Kamal..........cr  5000

3. Cash Acc................dr  51000

   Acc. receivable of Kamal..........cr   51000

4. Acc. Receivable of Ram.......dr  35280

   Cash discount ........................dr   720

     Sales Acc................................cr       36000

5. Cash Acc................dr  8820

   Acc. receivable of Ram..........cr  8820

( 35280/4= 8820)