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Question

Rectify the following errors found in the books of Mr. Suhail by passing entries:
(i) One item of purchase of ₹ 250 has been posted from the purchases book to the ledger as ₹ 350.
(ii) Sales return of ₹ 2,000 from a party has not been posted to that account, through the party's account has been credited.
(iii) A cheque of ₹ 600 issued to the suppliers account (shown under Sundry Creditors) toward his dues had been wrongly debited to the purchases account.
(iv) Credit sale of ₹ 1,000 has been credited to the sales and also to the Sundry Debtor's Account.

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Solution

Journal

Date

Particulars

L.F.

Debit

Amount

(₹)

Credit

Amount

(₹)

(i)

Creditor A/c

Dr.

100

To Suspense A/c

100

(Creditor account overcasted, now rectified)

(ii)

Sales Return A/c

Dr.

2,000

To Suspense A/c

2,000

(Return of goods by customers omitted from Sales Return, now rectified)

(iii)

Sundry Creditors A/c

Dr.

600

To Purchases A/c

600

(Payment to creditors debited to Purchases, now rectified)

(iv)

Sundry Debtors A/c

2,000

To Suspense A/c

2,000

(Sundry Debtors mistakenly credited, now rectified)



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