MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Business Studies

Types of Sales Promotion

Cash sales of...

Question

Cash sales of trading goods is initially recorded in ________.

A

sales day book

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

cash book

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

directly in Sales A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

any of the above three

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B cash book
Cash book is maintained by the business to record all the cash transactions i.e. expense and revenues. Cash sales of goods must be recorded in cash book on the date of sale itself.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Credit sales of trading goods is initially recorded in____________.

Q. XY Associates Trial balance as on 31-3-2013 shows the balance of Sales A/c as Rs. 1,85,000. While checking the books of account the following discrepancies were noticed.
(a) A sales of Rs.2,560 was recorded in the sales day book as Rs,650
(b) Total of sales day book for the month of May 2012 was short by Rs.2,000.
(c) Sales includes sales proceed of dead stock sold Rs.6,000
From the above details, calculate the actual sales to be shown in Trading A/c .

Q. Sales day book makes a record of all sales.

Q. Cash sales of a business in a year were ₹ 85,000, the Cost of Goods Sold (including direct expenses) was ₹ 97,000 and Gross Profit as shown by the Trading Account for the year was ₹ 1,29,000. Calculate Credit Sales during the year.

Q. Sales of trading goods accounting to Rs. 6540 was wrongly recorded in sales day book as Rs.5640, however, the mistake was rectified before finalization of accounts. On rectification of the error before preparation of Final accounts, the profit and loss of the firm will ______.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Promotion

BUSINESS STUDIES

Watch in App

explore_more_icon

Explore more

Types of Sales Promotion

Standard XII Business Studies

Join BYJU'S Learning Program

CrossIcon