Goods purchased from Sohan for Rs 300 has been recorded as Rs 3000. To rectify the same, which of the following is correct?

Sohan`s account shall be debited by Rs 2700

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Purchase account shall be credited by Rs 2700

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A & B both

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None of the above

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Solution

The correct option is C
A & B both

Rectifying Entry shall be:
Sohan A/c Dr Rs 2700
To Purchases A/c Rs 2700

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Similar questions

Goods purchased from Ravi on credit for Rs 450 has been recorded as for Rs 540. To rectify the same, which account shall be debited by Rs 90 ?

Rectify the following errors

(i) Credit sales to Mohan Rs. 7,000 were recorded as Rs. 700.

(ii) Credit purchase from Rohan Rs. 9,000 were recorded as Rs. 900.

(iii) Goods returned to Rakesh Rs. 4,000 were recorded as Rs. 400.

(iv) Goods returned from Mahesh Rs. 1,000 were recorded as Rs. 100.

(v) Furniture purchased on credit from kartik for Rs. 60,000 posted as Rs. 6,000.

(vi) Furniture purchased on credit from Kartik for Rs. 60,000. posted to Jatin's account.

(vii) Furniture purchased on credit from Kartik for Rs. 60,000 posted to machinery account.

Rectify the following errors:

(i)	Credit sales to Mohan Rs 7,000 were recorded as Rs 700.
(ii)	Credit purchases from Rohan Rs 9,000 were recorded. as Rs 900.
(iii)	Goods returned to Rakesh Rs 4,000 were recorded as Rs 400.
(iv)	Goods returned from Mahesh Rs 1,000 were recorded as Rs 100.

Rectify the following errors:

(i)	Credit sales to Mohan Rs 7,000 were recorded as Rs 7,200.
(ii)	Credit purchases from Rohan Rs 9,000 were recorded as Rs 9,900.
(iii)	Goods returned to Rakesh Rs 4,000 were recorded as Rs 4,040.
(iv)	Goods returned from Mahesh Rs 1,000 were recorded as Rs 1,600.

Rectify the following errors.

(a) Credit sales to Mohan Rs. 7,000 were recorded as Rs. 7,200.

(b) Credit purchase from Rohan Rs. 9,000 were recorded as Rs. 9,900.

(d) Goods returned from Mahesh Rs. 1,000 were recorded as Rs. 1,600.

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