Rectify the following errors assuming that the trial balance is yet to

1.	Rectify the following errors assuming that the trial balance is yet to be prepared?1. Sales book was undercast by Rs. 400. 2. Sales returns book was overcast by Rs. 500. 3. Purchases book was undercast by Rs. 600. 4. Purchases returns book was overcast by Rs. 700. 5. Bills receivable book was undercast by Rs. 800.
Answer» 1. Sales account should be created with Rs. 400 2. Sales returns account should be created with Rs. 500 3. Purchases account should be debited with Rs. 600 4. Purchase returns account should be debited with Rs. 700. 5. Bills receivable account should be debited with Rs. 800

Rectify the following errors assuming that the trial balance is yet to be prepared?1. Sales book was undercast by Rs. 400. 2. Sales returns book was overcast by Rs. 500. 3. Purchases book was undercast by Rs. 600. 4. Purchases returns book was overcast by Rs. 700. 5. Bills receivable book was undercast by Rs. 800.

Answer»

1. Sales account should be created with Rs. 400

2. Sales returns account should be created with Rs. 500

3. Purchases account should be debited with Rs. 600

4. Purchase returns account should be debited with Rs. 700.

5. Bills receivable account should be debited with Rs. 800

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