Question

Pass the necessary Journal entries to rectify the following errors:
(i) Credit sale of ₹ 570 to Mohan was recorded as ₹ 750.
(ii) Credit sale of ₹ 850 to Sohan was recorded as sale to Mohan.
(iii) Credit sale of ₹ 850 to Meenu was recorded as sale to Meena as ₹ 580.
(iv) Credit sale of ₹ 850 to Ram was recorded in the Purchases Book.
(v) Credit sale of old machinery to Sohan for ₹ 1,700 was entered in the Sales Book as ₹ 7,100.
(vi) Bill Receivable for ₹ 5,000 accepted by Mahinder recorded as acceptance given to Mahinder for ₹ 6,000.

Answer 1

Journal
Date	Particulars		L.F.	Debit Amount (₹)	Credit Amount (₹)
i)	Sales A/c	Dr.		180
	To Mohan’s A/c				180
	(Being correcting goods sold on credit to Mohan recorded at wrong amount)
ii)	Sohan’s A/c	Dr.		850
	To Mohan’s A/c				850
	(Being correcting credit sale to Sohan recorded as sale to Mohan)
iii)	Meenu’s A/c	Dr.		850
	To Sales A/c				270
	To Meena’s A/c				580
	(Being correcting credit sale to Meenu recorded to Meena at wrong amount)
iv)	Ram’s A/c	Dr.		1,700
	To Sales A/c				850
	To Purchases A/c				850
	(Being correcting credit sales to Ram wrongly recorded in the purchases book)
v)	Sales A/c	Dr.		7,100
	To Machinery A/c				1,700
	To Soahn’s A/c				5,400
	(Being correcting credit sale of machinery to Sohan wrongly recorded in sales book)
vi)	Bills Payable A/c	Dr.		6,000
	Bills Receivable A/c	Dr.		5,000
	To Mahinder’s A/c				11,000
	(Being bills receivable wrongly recorded as bills payable now rectified)