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 −

Date	Account credited	Amount(Rs)
03/05/2004	Ram & Co	5700
14/05/2004	B&R	2800
total		8500

Date	Account credited	Amount(Rs)
06/05/2004	Accounts receivable (N&S)	7300
15/05/2004	Accounts receivable (X &Co)	1800
total		9100

Date	Account credited	Amount(Rs)
16/04/2004	Accounts receivable (N&S)	800
30/04/2004	Accounts receivable (X &Co)	250
total		1050

Date	Account credited	Amount(Rs)
19/04/2004	Account payable (Ram & Co)	650
25/04/2004	Account payable (B & B)	760
total		1410

Date	Particulars	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

Updated on: 13-Jul-2021

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