Question

Rectify the following errors :
(i) Credit sales to Mohan Rs. 7,000 were recorded as Rs.7,200.
(ii) Credit purchases from Rohan Rs. 9,000 were recorded as Rs. 9,900.
(iii) Goods returned to Rakesh Rs. 4,000 were recorded as Rs 4,040.
(iv) Goods returned from Mahesh Rs. 1,000 were recorded as Rs.1,600.
Please solve this with correct, incorrect and rectified statement​

Answer 1

Answer:

rectified entry

i. Sales ac Dr. ₹200

to mohan's ac ₹200

ii. Rohan's ac Dr. ₹900

to purchase ac ₹900

iii. Purchase return ac Dr. ₹40

to rakesh's ac ₹40

iv. Mahesh's ac Dr. ₹600

sales return ac ₹600

Explanation:

i. R. E. - mohan's ac Dr ₹7000 to sales ac ₹7000

w. E. - mohan's ac Dr ₹7200 to sales ac ₹7200

ii. R. E. - purchase ac Dr ₹9000 to rohan's ac ₹9000

w. E. - purchase ac Dr ₹9900 to rohan's ac ₹9900

iii. R. E. - rakesh's ac Dr ₹4000 to purchase return ac ₹4000

w. E. - rakesh's ac Dr ₹4040 to purchase return ac ₹4040

iv. R.E.- sales return ac Dr. ₹1000 to mahesh's ac ₹1000

W.E.- sales return ac Dr. ₹1600 to mahesh's ac₹1600