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How are the transactions recorded in respective journals?
411 Lectures 38.5 hours
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/
The transactions for the above mentioned data are recorded in the respective journals as follows −
|03/05/2004||Ram & Co||5700|
|06/05/2004||Accounts receivable (N&S)||7300|
|15/05/2004||Accounts receivable (X &Co)||1800|
Return inward journal
|16/04/2004||Accounts receivable (N&S)||800|
|30/04/2004||Accounts receivable (X &Co)||250|
Return outward journal
|19/04/2004||Account payable (Ram & Co)||650|
|25/04/2004||Account payable (B & B)||760|
Account payable (Mr.S)
(Being furniture purchased on credit)
Account payable (DF Machines)
(Being furniture purchase on credit)
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