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Question

Find out the Credit Purchases from the details given below:
Balance of Creditors on 1st April 2018 32,000
Balance of Creditors on 31st March, 2019 46,000
Cash paid to Creditors 2,20,000
Cheques issued to Creditors 60,000
Purchases Returns 10,000
Discount received from Creditors 6,600
Cash Purchases 1,15,000
B/P accepted 16,000
B/P dishonoured 2,000
B/R endorsed to Creditors 7,000
Endorsed B/R dishonoured 3,000

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Solution

Creditors Account

Dr.

Cr.

Particulars

Amount

(₹)

Particulars

Amount

(₹)

Cash A/c

2,20,000

Balance b/d

32,000

Discount Received A/c

6,600

Bills Payable A/c

2,000

Bills Payable A/c

16,000

Bills Receivable A/c

3,000

Purchases Return A/c

10,000

Purchases A/c (Credit)

3,28,600

Bills Receivable A/c

7,000

Bank A/c

60,000

Balance c/d

46,000

3,65,600

3,56,600


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