Question

Q.16. Journalize the following transactions :-
(a) Purchased goods from Ram Rs 80,000 at a trade discount
of 10% CGST and SGST at 6% each.
(b) Received Rs 8,000 out of a bad debt written of last year.
(c) Paid salary Rs. 25,000 and Rs. 5,000 is outstanding.
(d) Supplied goods costing Rs. 8,000 to Rajesh invoiced 20%
above cost at a trade discount of 5%.​

Answer 1

Explanation:

a) Purchase a,/c. Dr 72000

Input cgst a/c. Dr 4320

Input Sgst. a/c. Dr. 4320

To Ram. 80640

b) Cash a/c. Dr 8000

To bad debt recovered a/c. 8000

c) Salary a/c. Dr 30000

To cash a/c. 5000

To outstanding salary a/c. 25000

d). Rajesh. Dr 9120

To sales a/c. 9120