Question

Question 11.
Open a ‘T’ shape account of debtor ‘Brij’ and write the following transactions on the proper side:
(i) Sold goods to Brij on credit – ₹ 25,000
(ii) Cash received from Brij – ₹ 10,000
Discount allowed to him – ₹ 500
(iii) Goods returned by Brij – ₹ 5,000

Answer 1

Answer:

(i) brij a/c dr. 25000

to sales a/c 25000

(ii) cash a/c dr. 10000

discount allowed a/c dr. 500

to brij a/c 10500

(iii) sales returns a/c dr. 5000

to brij a/c 5000

Answer 2

The T shape account is shown below:

Explanation:

The T shape account is shown as:

Trading account is the account which holds the cash and securities, With this account, the investor could bought as well as sell the assets.

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