![Trending Articles on Technical and Non Technical topics](/images/trending_categories.jpeg)
Data Structure
Networking
RDBMS
Operating System
Java
MS Excel
iOS
HTML
CSS
Android
Python
C Programming
C++
C#
MongoDB
MySQL
Javascript
PHP
Physics
Chemistry
Biology
Mathematics
English
Economics
Psychology
Social Studies
Fashion Studies
Legal Studies
- Selected Reading
- UPSC IAS Exams Notes
- Developer's Best Practices
- Questions and Answers
- Effective Resume Writing
- HR Interview Questions
- Computer Glossary
- Who is Who
Describe Preparation accounts receivable and accounts payable ledger postings
We can prepare accounts receivable and accounts payable ledger postings by using triple column cash book entries. Refer the data given below −
454 – Discount allowed ledger number (expense account)
480 – Discount received Léger number (revenue account)
Solution
The solution is as follows −
Accounts receivable ledger
M&CO no. 28 | |||||||
Date | Description | PR | Amount($) | Date | Description | PR | Amount($) |
April 5th | Cash | 31 | 1350 | ||||
April 5th | Discount allowed | 31 | 18 |
H&CO no. 18 | |||||||
Date | Description | PR | Amount($) | Date | Description | PR | Amount($) |
April 24 | Cash | 31 | 2200 | ||||
April 24 | Discount allowed | 31 | 16 |
Accounts payable ledger
S&CO no. 42 | |||||||
Date | Description | PR | Amount($) | Date | Description | PR | Amount($) |
April 3 | Bank | 31 | 1800 | ||||
April 3 | Discount Received | 31 | 15 | ||||
April 19 | Bank | 31 | 2100 | ||||
April 19 | Discount Received | 31 | 12 |
XY Inc no. 59 | |||||||
Date | Description | PR | Amount($) | Date | Description | PR | Amount($) |
April 25 | Bank | 31 | 630 | ||||
April 25 | Discount Received | 31 | 14 |
Advertisements