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Enter the following transactions in the Journal of Ganesh Bros: 2020 March - 3. Sold goods to Dev for- Rs 5000 Received from Dev in full settlement Rs 4800 of his account, 6 Sold goods to Manmohan- Rs 8000 8 Manmohan returned goods for- 800 15 Received from Manmohan in full settlement of his account -Rs 7000 16 Received from Rs 19000 Ram and discount allowed- Rs 1000 20 Paid cash to Pawan Rs 9800 and discount received from him -Rs 200 25 Sold goods to Varun of the list price or Rs. 25,000 at 20% trade discount. |
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Answer» ong>Answer: Journal Entry March 3 Dev ...Dr. 5,000 To Sales A/c 5,000 ( Being GOODS sold to Dev) March 5 Bank A/c ...Dr. 4,800 Discount Allowed A/c ...Dr. 200 To Dev 5,000 ( Being received from Dev in Full Settlement) March 6 Manmohan ...Dr. 8,000 To Sales A/c 8,000 ( Being goods sold to Manmohan) March 8 Sales Returns A/c ...Dr. 800 To Manmohan 800 ( Being goods returned by Manmohan) March 15 Bank A/c ...Dr. 7,000 Discount Allowed A/c ...Dr. 200 To Manmohan 7,000 ( Being received from Manmohan in Full Settlement) March 16 Cash A/c ...Dr. 19,000 Discount Allowed A/c ...Dr. 1,000 To Ram 20,000 ( Being received from Ram in Full Settlement) March 20 Pawan ...Dr. 10,000 To Cash A/c 9,800 To Discount received A/c 200 ( Being Cash paid to Pawan and received Discount ) March 25 Varun ...Dr. 20,000 To Sales A/c 20,000 ( Being goods sold to Vann at 20% T.D. i.e. Rs.5000) Note:- Trade Discount is never mentioned in Journal Entry. I hope you find this helpful...!! GOOD luck Dear |
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