Question

What is the rectification entry of this?
Received cash from ram was posted on credit side of cashbook rs.500​

Answer 1

Answer:

Two Sided Errors

Journal

Date Particulars L.F. Debit Amount (Rs) Credit Amount (Rs)

i) Mridula’s A/c Dr. 4,500

To Sales A/c

4,500

(Credit sales to Mridula were recorded as Rs 500 instead of Rs 5,000)

ii) Purchases A/c Dr. 7,200

To Nayna’s A/c

7,200

(Credit purchases from Nayna were recorded as Rs 800 instead of Rs 8,000)

iii) Priya’s A/c Dr. 10,800

To Purchases Return A/c

10,800

(Goods returned to Priya were recorded as Rs 1,200 instead of Rs 12,000)

iv) Sales Return A/c Dr. 9,000

To Rashi’s A/c

9,000

(Goods returned from Rashi were recorded as Rs 1,000 instead of Rs 10,000)

Explanation:

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