How are the transactions recorded in respective journals?

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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

4800
28/04/2004
Machinery
Account payable (DF Machines)
(Being furniture purchase on credit)

8500

8500
total
13300
13300


raja
Published on 13-Jul-2021 11:38:06
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