Question

Prepare the Ledger account of Mr. Solkar from the following:

2015 March 1 Debit balance to his account ` 2,000.

3 Sold goods on credit to him worth ` 10,800

8 Received cash from him `12,600 and allowed discount of ` 200.

10 Solkar bought goods on credit ` 3,000.

15 Received cash from him ` 2,900 and allowed him discount ` 100

20 Purchased goods on credit from Solkar worth ` 2,000

25 Paid cash to Solkar ` 1,000

28 Returned goods to him ` 200.

31 Paid cash to him in full settlement of his account ` 780.​

Answer 1

31 paid cash to him in full settlement of his account 780

Answer 2

Ledger Account of Mr.Solkar for the following transactions

Explanation:

                                                 Mr.Solkar A/c

Particulars           Amount(Rs.)        Particulars         Amount(Rs.)    

1.3.15 To Balance b/d     2000     8.3.15 By Cash A/c           12600

3.3.15 To Sales A/c         10800    15.3.15 By Cash A/c         2900          

10.3.15 To Sales A/c        3000     20.3.15 By Purchases A/c 2000

25.3.15 To Cash A/c       1000       31.3.15 By Balance c/d       380

28.3.15 To Purchase       200

            Return A/c

31.3.15 To Cash A/c        780

                                                                                                                       

                                      17780                                                   17780