Question

Sold goods to Rita Agencies for 6000, received their acceptance for 2000 and balance in cash. Journalise with explanation.

Answer 1

Rita's A/C. Dr. 6000

To Sales A/C. 6000

(Goods sold to Rita for 6000)

Sales ReturnA/C. Dr. 4000

To Rita's A/C. 4000

(Sold goods return from Rita's Agency)

Cash A/C. Dr. 2000

To Rita's A/C. 2000

(Cash received from Rita's Agency)

Answer 2

Answer:

Bill of exchange a/c. Dr. 2000

Cash a/c. Dr. 4000

To sales a/c. 6000

Explanation:

Acceptance means the bill received from him while balance in cash