cash recieved from Y r.s. 300 after deducting discount allowed r.s. 30.
while posting to ledger amount of discount allowed posted to cash account and amount recieved posted to discount allowed account.
rectify the error

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Solution

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

Cash A/c
Dr.

270

To Discount A/c

270

( being error rectified)

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Similar questions

Rectify the following errors assuming that suspense account was opened. Ascertain the difference in trial balance.

(i) Depreciation provided on machinery Rs. 4,000 was not posted to depreciation account.

(ii) Bad debts written-off Rs. 5,000 were not posted to debtor's account.

(iii) Discount allowed to a debtor Rs. 100 on receiving cash from him was not posted to discount allowed account.

(iv) Goods withdrawn by proprietor for personal use Rs. 800 were not posted to drawings account.

(v) Bills receivable for Rs. 2,000 received from a debtor was not posted to bills receivable account.

Rectify the following errors,

(a) Depreciation provided on machinery Rs. 4,000 was posted as Rs. 400.

(b) Bad debts are written off Rs. 5,000 were posted as Rs. 6,000.

(d) Goods are withdrawn by the proprietor for personal use Rs. 800 were posted as Rs. 300.

(e) Bill receivable for Rs. 2,000 received from a debtor was posted as Rs. 3,000.

Rectify the following errors:

(a)	Depreciation provided on machinery Rs 4,000 was posted as Rs 400.
(b)	Bad debts written off Rs 5,000 were posted as Rs 6,000.
(c)	Discount allowed to a debtor Rs 100 on receiving cash from him was posted as Rs 60.
(d)	Goods withdrawn by proprietor for personal use Rs 800 were posted as Rs 300.
(e)	Bill receivable for Rs 2,000 received from a debtor was posted as Rs 3,000.

Sold goods for cash of Rs 4000 on 10% Trade discount & 10% cash discount. Posting in discount account will be?

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