Question

Tournal Entries for the following transactions in the books of Raja Ram
Q. 8. Give Journal Entrie
& Co.:
2017
Torch 3 Bought goods for cash of the list price of $80,000 at 10% trade die
2-% cash discount.
5 Sold goods for cash of the list price of 1,00,000 at 15% trade discount and 3%
cash discount.
6 Sold goods to Nagpal of the list price of 50,000 at 20% trade discount.
8 Nagpal returned one-fourth of the above goods,
10 Nagpal settled the account by paying cash under a discount of 5%.
Ans. Total 2,37,000; Cash Discount on March 3 31,800; on March 5 72,550
and on March 10 1,500.]
1ine the fol​

Answer 1

Answer:

3. Purchases A/c Dr. 72,000

To cash a/c 70,560

To discount received a/c. 1,440

5. Cash a/c Dr. 84,450

Discount received a/c Dr. 2,550

To sales a/c 85,000

6. Nagpal Dr. 40,000

To sales a/c 40,000

8. Sales return a/c Dr. 10,000

To nagpal 10,000

10. Cash a/c Dr. 28,000

Discount allowed a/c Dr. 1,500

To nagpal. 30,000