Question

Journalise the following transactions in the books of Dixit & Sons. :

2018
March 2	Sold goods to Dilip of the list price of ₹ 62,000 for ₹ 60,000.
16	Purchased goods costing ₹ 2,00,000 from Hari & Co. Paid 75% immediately by cheque to avail 4% discount.
20	Sold goods to Vishal Traders costing ₹ 40,000 at 25% profit, allowing 10% trade discount and 10% cash discount. Received 80% payment immediately by cheque.
26	Sold goods to Brij & Co. costing ₹ 50,000 at 40% profit, allowing 10% trade discount and 5% cash discount. Brij & Co. paid the full amount by cheque and availed cash discount.

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
2018
Mar 02	Dixit A/c To Sales A/c	Dr.		60,000	60,000
	(Sold to Dixit)
Mar 16	Purchases A/c	Dr.		2,00,000
	To Hari & Co.				50,000
	To Bank A/c				1,44,000
	To Discount Received A/c				6,000
	(Purchased from Hari & Co., 75% paid through cheque and partly credit)
Mar 20	Bank A/c	Dr.		9,000
	Vishal Traders A/c	Dr.		32,400
	Discount Allowed A/c	Dr.		3,600
	To Sales A/c				45,000
	(Sold to Vishal Traders, partly received through cheque and partly credit)
Mar 26	Bank A/c	Dr.		59,850
	Discount Allowed A/c	Dr.		3,150
	To Sales A/c				63,000
	(Sold to Brij & Co., received fully through cheque)
				3,68,000	3,68,000