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Answers
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 )