Question

Question : From the details given below, find out the credit sales and total sales.

	(Rs)
Opening Debtors	$45,000$
Closing Debtors	$56,000$
Discount allowed	$2,500$
Sales returns	$8,500$
Irrecoverable Amount	$4,000$
Bills receivables received	$12,000$
Bills receivable dishonoured	$3,000$
Cheque dishonoured	$7,700$
Cash Sales	$80,000$
Cash received from Debtors	$2,30,000$
Cheque received from Debtors	$25,000$

Answer 1

Answer :
Dr Debtor's Account Cr

Date	Particulars	JF	Amt. (Rs)	Date	Particulars	JF	Amt. (Rs)
	To Balance b/d		$45,000$		By Discount Allowed		$2,500$
	To Bills Receivable (Dishonoured)		$3,000$		By Sales Return		$8,500$
	To Bank (Cheque Dishonoured)		$7,700$		By Bad debts		$4,000$
	To Sales (Balancing figure)		$2,82,300$		By Bills receivable		$12,000$
					By Cash (Received)		$2,30,000$
					By Bank (Cheque Received)		$25,000$
					By Balance c/d		$56,000$
			$3,38,000$				$3,38,000$

Total Sales = Cash Sales + Credit Sales
Total Sales = $80,000+2,82,300=Rs3,62,300$