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How are the transactions recorded in respective journals?
Refer the transactions given below and record them in appropriate format in the respective journals.
- On May 3 − Goods worth of Rs.5700/- purchased from Ram & co.
- On May 6 − Sold merchandise worth Rs. 7300/- to N&S.
- On May 14 − Purchase merchandise worth of Rs.2800/- from B&R.
- On May 15 − Sales (credit) of goods worth of Rs.1800/- to X& Co.
- On May 16 − N&S returned goods worth of Rs.800/-
- On May 19 − Return merchandise to Ram & Co worth of Rs.650/-
- On May 21 − Furniture purchased from Mr. S of Rs.4800/-
- On May 25 − Return goods worth of Rs.760/- to B&R
- On May 28 − Machinery worth of Rs.8500/- purchased on account from DF machines
- On May 30 − X &Co returned merchandise worth of Rs.250/
Solution
The transactions for the above mentioned data are recorded in the respective journals as follows −
Purchase journal
Date | Account credited | Invoice | Reference | Amount(Rs) |
---|---|---|---|---|
03/05/2004 | Ram & Co | 5700 | ||
14/05/2004 | B&R | 2800 | ||
total | 8500 |
Sales journal
Date | Account credited | Invoice | Reference | Amount(Rs) |
---|---|---|---|---|
06/05/2004 | Accounts receivable (N&S) | 7300 | ||
15/05/2004 | Accounts receivable (X &Co) | 1800 | ||
total | 9100 |
Return inward journal
Date | Account credited | Invoice | Reference | Amount(Rs) |
---|---|---|---|---|
16/04/2004 | Accounts receivable (N&S) | 800 | ||
30/04/2004 | Accounts receivable (X &Co) | 250 | ||
total | 1050 |
Return outward journal
Date | Account credited | Invoice | Reference | Amount(Rs) |
---|---|---|---|---|
19/04/2004 | Account payable (Ram & Co) | 650 | ||
25/04/2004 | Account payable (B & B) | 760 | ||
total | 1410 |
General journal
Date | Particulars | Reference | Amount(Rs) | |
---|---|---|---|---|
Debit | Credit | |||
21/04/2004 | Furniture Account payable (Mr.S) (Being furniture purchased on credit) | 4800 | ||
28/04/2004 | Machinery Account payable (DF Machines) (Being furniture purchase on credit) | 8500 | ||
total | 13300 | 13300 |
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