Question

Open a 'T' shape account of creditor, 'Rakesh', and write the following transactions on the proper side:

		₹
(i)	Goods purchased from Rakesh on credit	50,000
(ii)	Goods returned to Rakesh for	5,000
(iii)	Paid to Rakesh	20,000
(iv)	Purchase goods from Rakesh on credit	10,000

Answer 1

Rakesh
Dr.							Cr.
Date	Particulars	J.F.	Amount (Rs)	Date	Particulars	J.F.	Amount (Rs)
(ii)	Purchases Return		5,000	(i)	Purchases		50,000
(iii)	Cash		20,000	(iv)	Purchases		10,000
	Balance c/d		35,000
			60,000				60,000