Question

Enter the following transactions in the Journal of Ganesh Bros. :

2017			₹
March 3		Sold goods to Dev	1,00,000
5		Received from Dev in full settlement of his account	98,000
6		Sold goods to Manmohan	80,000
8		Manmohan returned goods	1,000
15		Received from Manmohan in full settlement of his account	78,200
16		Received cash from Ram	19,500
		and discount allowed	500
20		Paid cash to Pawan	4,700
		and discount received from him	300
25		Sold goods to Varun of the list price of ₹ 25,000 at 20% trade discount

Answer 1

Journal In the Books of Ganesh
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)
2017
Mar. 03	Dev’s A/c	Dr.		1,00,000
	To Sales A/c				1,00,000
	(Goods sold to Dev)
Mar. 05	Cash A/c	Dr.		98,000
	Discount Allowed A/c	Dr.		2,000
	To Dev’s A/c				1,00,000
	(Cash received from Dev in full settlement of his account)
Mar. 06	Manmohan’s A/c	Dr.		80,000
	To Sales A/c				80,000
	(Goods sold to Manmohan)
Mar. 08	Sales Return A/c	Dr.		1,000
	To Manmohan’s A/c				1,000
	(Goods returned to Manmohan)
Mar. 15	Cash A/c	Dr.		78,200
	Discount Allowed A/c	Dr.		800
	To Manmohan’s A/c				79,000
	(Cash received from Manmohan in full settlement of his account)
Mar. 16	Cash A/c	Dr.		19,500
	Discount Allowed A/c	Dr.		500
	To Ram’s A/c				20,000
	(Cash received from Ram and discount allowed)
Mar. 20	Pawan’s A/c	Dr.		5,000
	To Cash A/c				4,700
	To Discount Received A/c				300
	(Cash paid to Pawan and received discount)
Mar. 25	Varun’s A/c	Dr.		20,000
	To Sales A/c				20,000
	(Goods sold @ 20% trade discount)
	TOTAL			4,05,000	4,05,000