Question

Prepare a ledger account from the details available: i. Bought goods from Ram & Co. £5 Million. ii. Returned goods to Ram & Co. £0.25 Million. iii. Partial payment to Ram & Co. £2 Million and received a discount of 1%. iv. Settled Ram & Co. A/c with final payment through Cheque No. ABC123xxx of SBI, Amrapali Branch for the remaining amount and this time no discount was given to us. v. Paid incomme tax for the year £1 Million

Answer 1

Answer:

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