Pass journal entries in the books of (Munna)
2017
Aug. 5 = Sold goods to Akhilesh of the list price of 20000 at 10 percent discount.
Aug. 15 = Akhilesh returned goods of the list price of 2000.
Aug. 30 = Received from Akhilesh 15000 in full settlement of his account.
Aug. 31 =Sold goods for cash to priyanshu of the list price 1000 at 10 percent trade discount and 5 percent cash discount.
Answers!
In the case aug 30
Bank/cash 15000
Cash discount 1000
To Akhiles 16000
Comment
Akhilesh Dr 18000
Discount allow Dr 2000
To sales CR 20000
Sales return Dr 2000
To Akhilesh CR 2000
Bank Dr 15000
To Akhilesh CR 15000
Cash Dr 850
To sales CR 850
Answer the question...
In the case aug 30
Bank/cash 15000
Cash discount 1000
To Akhiles 16000
Bank/cash 15000
Cash discount 1000
To Akhiles 16000
Comment
Akhilesh Dr 18000
Discount allow Dr 2000
To sales CR 20000
Sales return Dr 2000
To Akhilesh CR 2000
Bank Dr 15000
To Akhilesh CR 15000
Cash Dr 850
To sales CR 850
Discount allow Dr 2000
To sales CR 20000
Sales return Dr 2000
To Akhilesh CR 2000
Bank Dr 15000
To Akhilesh CR 15000
Cash Dr 850
To sales CR 850