Question

Please somone help me
Its very urgent
please anyone solve this

Answer 1

golden principles of accounting .

personal account rule

dr- the receiver.

cr- the giver.

real account rule

dr- what comes in.

cr- what goes out.

nominal account rule.

dr- all expenses and losses.

cr- all incomes and gains.

Explanation:

the journal entries will be...

3.dev a/c dr 100000

to sales 100000

(being goods sold on credit to dev.)

5.cash a/c dr 98000

discount a/c dr 2000

to dev a/c 100000

( being cash recieved from dev in full settlement of his account).

6.manmohan a/c dr 80000

to sales a/c 80000

(being goods sold on credit to manmohan).

8.sales returns a/c dr 1000

to Manmohan a/c. 1000

( being goods returned by Manmohan)

15. cash a/c dr 78200

discount a/c dr 800

to Manmohan a/c 79000

( being cash recieved from Manmohan in full settlement of his account)

16. cash a/c dr 19500

discount allowed a/c dr 500

to ram a/c 20000

( being cash recieved from remand discount allowed)

20. pawan a/c dr 5000

to cash a/c 4700

to discount received a/c 300

( being cash paid to pawan and discount received)

25. varun a/c dr 20000

to sales a/c 20000

( being goods sold to varun )