Record the following transactions in Purchase Book, Sales Book, Purchase Returns Book and Sales Returns Book of Tushar General Stores for the month of May 2011.

2011 May

1

Jaya invoiced goods of Rs 15,000 at 9% trade discount as per their Invoice number 231.

3

Purchased computer from IBM Computers worth Rs 55,000 as per their Invoice number 863.

4

Invoiced goods to Priya for Rs 20,000 at 4̳½ % trade discount as per Invoice number 341.

7

Sold goods to Sneha for Rs 14,500 at 10% trade discount as per Invoice number 342.

12

Priya returned goods worth Rs 3,500 for which we issued Credit Note Not 78. (Gross).

15

Goods worth Rs 3,500 returned to Jaya and issued Debit Note No. 94.

17

Sold a part of old machinery to Vipin on credit for Rs 29,800.

20

Sold goods to Anita for Rs 26,650 as per Invoice number 343 and purchased goods from her for Rs 12,250 as per their Invoice number 545.

22

Kailas Traders purchased goods from us Rs 16,000 at 6% trade discount as per the Invoice number 344.

24

Satya supplied goods to us of Rs 2,450 Invoice number 630.

27

Kails Traders returned goods to us of Rs 5,180 (Net) and we issued a Credit Note No. 79.

29

Returned goods worth Rs 460 to Satya and issued Debit Note No. 95.

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Solution

In the Books of Tushar General stores

Purchases Book

Date

Particulars

L.F.

Details (Rs)

Amount

(Rs)

May
2011

1

Jaya

15,000

Less: Trade Discount @ 9%

(1,350)

13,650

20

Anita

12,250

24

Satya

2,450

Purchases A/c Dr.

28,350

Sales Book

Date

Particulars

L.F.

Details (Rs)

Amount

(Rs)

May 2011

4

Priya

20,000

Less: Trade Discount @ 4.5%

(900)

19,100

7

Sneha

14,500

Less: Trade Discount @ 10%

(1,450)

13,050

20

Anita

26,650

22

Kailas Traders

16,000

Less: Trade Discount @ 6%

(960)

15,040

Sales A/c Cr.

73,840

Purchases Return Book

Date

Particulars

Debit

Note No

L.F.

Details (Rs)

Amount

(Rs)

May 2011

15

Jaya

3,500

29

Satya

460

Purchases Returns A/c Cr.

3,960

Sales Return Book

Date

Particulars

Credit Note No.

L.F.

Details (Rs)

Amount

(Rs)

May
2011

15

Priya

3,500

Less: Trade Discount @ 4.5%

(157)

3,343

27

Kailas Traders

5,180

Sales Returns A/c Dr.

8,523

Note: As per the book, Purchase Return Book shows a balance of Rs 3,690 but as per our solution it is Rs 3,960.

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2011 May
1	Jaya invoiced goods of Rs 15,000 at 9% trade discount as per their Invoice number 231.
3	Purchased computer from IBM Computers worth Rs 55,000 as per their Invoice number 863.
4	Invoiced goods to Priya for Rs 20,000 at 4̳½ % trade discount as per Invoice number 341.
7	Sold goods to Sneha for Rs 14,500 at 10% trade discount as per Invoice number 342.
12	Priya returned goods worth Rs 3,500 for which we issued Credit Note Not 78. (Gross).
15	Goods worth Rs 3,500 returned to Jaya and issued Debit Note No. 94.
17	Sold a part of old machinery to Vipin on credit for Rs 29,800.
20	Sold goods to Anita for Rs 26,650 as per Invoice number 343 and purchased goods from her for Rs 12,250 as per their Invoice number 545.
22	Kailas Traders purchased goods from us Rs 16,000 at 6% trade discount as per the Invoice number 344.
24	Satya supplied goods to us of Rs 2,450 Invoice number 630.
27	Kails Traders returned goods to us of Rs 5,180 (Net) and we issued a Credit Note No. 79.
29	Returned goods worth Rs 460 to Satya and issued Debit Note No. 95.

Purchases Book
Date	Particulars	L.F.	Details (Rs)	Amount (Rs)
May 2011
1	Jaya		15,000
	Less: Trade Discount @ 9%		(1,350)	13,650
20	Anita			12,250
24	Satya			2,450
	Purchases A/c Dr.			28,350

Sales Book
Date	Particulars	L.F.	Details (Rs)	Amount (Rs)
May 2011
4	Priya		20,000
	Less: Trade Discount @ 4.5%		(900)	19,100
7	Sneha		14,500
	Less: Trade Discount @ 10%		(1,450)	13,050
20	Anita			26,650
22	Kailas Traders		16,000
	Less: Trade Discount @ 6%		(960)	15,040
	Sales A/c Cr.			73,840

Purchases Return Book
Date	Particulars	Debit Note No	L.F.	Details (Rs)	Amount (Rs)
May 2011
15	Jaya				3,500
29	Satya				460
	Purchases Returns A/c Cr.				3,960

Sales Return Book
Date	Particulars	Credit Note No.	L.F.	Details (Rs)	Amount (Rs)
May 2011
15	Priya			3,500
	Less: Trade Discount @ 4.5%			(157)	3,343
27	Kailas Traders				5,180
	Sales Returns A/c Dr.				8,523