Question

Sunil Kumar of Indore sent goods of costing of Rs. 2,50,000 to Manisha Traders

Jabalpur on consignment basis which was 25% more than its cost. He spent

Rs. 2,500 on carriage and Rs. 2,400 on insurance and received a bill of Rs.

80,000 which he discounted from bank for Rs. 77,500. Manisha Traders sold

4/5 of the consigned goods for Rs. 2,40,000 and spend Rs. 6,000 at selling

expenses. He remitted the balancing amount to Sunil Kumar after deducting

his commission @ 6.25% by a draft. Open necessary accounts in the books

of Sunil Kumar.

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Answer 1

Answer:

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