Question

sold goods to khan brothers rs12000 and cash sales rs 5000

Answer 1

Answer:

Khan brothers Dr 12000

Cash Dr 5000

To sales 17000

Answer 2

Khan Brother's A/c                      -----Dr.                                   3,000

Cash A/c                                       ----Dr.                                   5.000

                  To sales A/c                                                                      8,000

(Being goods sold to Khan Brothers paid partially by cash)

GIVEN: Goods sold to Khan Brothers for rupees 12000 he paid rupees 5000 by cash immediately

TO FIND Journal Entry for the occurred transaction.

SOLUTION:

As we are given in the question,

The business firm sold goods costing Rs.1000 and paid Rs.5000 at that time through cash and the rest were due.

In this question,

The golden rule of accounting along with a double entry algorithm will be used where it can be seen that we always debit the receiver which is Khan Brothers in this case, and also debit what comes in which is Cash in this case, and applying the rule of Credit what goes out which is sales.

Therefore,

The Journal entry for goods sold to Khan Brothers for rupees 12000 he paid rupees 5000 in cash immediately :

Khan Brothers' A/c                      -----Dr.                                   3,000

Cash A/c                                       ----Dr.                                   5.000

                  To sales A/c                                                                      8,000

(Being goods sold to Khan Brothers paid partially by cash)

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