Journalise the following transactions :
(a) Goods worth ₹ 2,000 destroyed by fire.
(b) Received ₹ 5,000 from Suresh which were written off as bad debts.
(c) Sold goods to Mohan of the list price of ₹ 5,000 subject to 10% trade discount and 5% cash discount. Mohan availed cash discount.
(d) Received ₹ 9,900 from Hari in full settlement of his account ₹ 10,000.

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Solution

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

(a)

Loss by Fire A/c

Dr.

2,000

To Purchases A/c

2,000

(Goods lost by fire)

(b)

Cash A/c

Dr.

5,000

To Bad Debts Recovered A/c

5,000

(Received from Suresh, a debtor, written off previously)

(c)

Cash A/c

Dr.

4,275

Discount Allowed A/c

Dr.

225

To Sales A/c

4,500

(Sold goods to Mohan for cash)

(d)

Cash A/c

Dr.

9,900

Discount Allowed A/c

Dr.

100

To Hari A/c

10,000

(Received in full settlement)

4,04,800

4,04,800

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Similar questions

Pass Journal entries in the books of Raghunath Bros. from the following transactions:-

2016
June 01	Raghunath Bros. started business with cash ₹ 80,000; Goods ₹ 40,000 and furniture ₹ 20,000.
June 02	Sold goods to Nandlal of the list price of ₹ 20,000 at trade discount of 10%.
June 04	Nandlal returned goods of the list price of ₹ 4,000.
June 08	Received from Nandlal ₹ 14,150 in full settlement of his account.
June 10	Purchased goods from Brij Mohan of the list price of ₹ 10,000 at 15% trade discount.
June 13	Returned goods to Brij Mohan of the list price of ₹ 1,000.
June 16	Settled the account of Brij Mohan by paying cash, under a discount of 4%.
June 18	Purchased goods from Anil ₹ 5,000; Sunil ₹ 10,000.
June 19	Paid cash to Anil ₹ 1,900 and discount received ₹ 100.
June 20	Paid ₹ 9,800 to Sunil in full settlement of his account.
June 20	Bought a 'Table Fan' for ₹ 8,000 for the domestic use of Raghunath.
June 25	Sold goods for cash of the list price of ₹ 8,000 at 10% trade discount and 3% cash discount.
June 30	Paid Rent ₹ 8,000; Trade Expenses ₹ 7,000 and Travelling Expenses ₹ 3,800.

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Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)

(a)	Loss by Fire A/c	Dr.		2,000
	To Purchases A/c				2,000
	(Goods lost by fire)

(b)	Cash A/c	Dr.		5,000
	To Bad Debts Recovered A/c				5,000
	(Received from Suresh, a debtor, written off previously)

(c)	Cash A/c	Dr.		4,275
	Discount Allowed A/c	Dr.		225
	To Sales A/c				4,500
	(Sold goods to Mohan for cash)

(d)	Cash A/c	Dr.		9,900
	Discount Allowed A/c	Dr.		100
	To Hari A/c				10,000
	(Received in full settlement)

				4,04,800	4,04,800