Question

There was a credit balance of 18600 in naveen’s a/c on 1st April 2018 . The following transactions took place during the month of April

April 3- bought goods from him 8000
April 8- paid to him 16500 and discount receive from him 100
April 16- returns goods to him 2000
April 25- settled his a/c by receiving 5% cash discount

Answer 1

Answer:

Purchase A/c Dr. 55,000

To Cash 55,000

(Being goods purchased for cash from Ram).