Web(i) Credit sales to Mohan Rs. 7,000 were recorded as Rs. 700. (ii) Credit purchase from Rohan Rs. 9,000 were recorded as Rs. 900. (iii) Goods returned to Rakesh Rs. 4,000 … WebThe following journal recordings will be required to rectify these errors. (a) Furnitue purchased was wrongly debited (instead of debiting the furniture account) to purchases account, the rectification entry would be to. . Credit the purchanes account to rectify the wrongly debited amount ₹ 4,000.
Goods purchsed from pankaj on credit … Homework Help
WebMr Johnson sold goods to Mohan (within the state ) rupees 200000 trade discount 10% and cash discount is 5% on prompt payment . Mohan paid the 50% amount at the time of sales. GST is levied @12% . give journal entry WebPankaj purchased goods of ₹ 20,000 from Omprakash on credit on 15th April 2024. Omprakash draws After Sight bill for the amount due on Pankaj for 3 months which was accepted by Pankaj on 18th April, 2024. On 20th April, 2024 Omprakash endorsed the bill to his creditor Jagsish in full settlement of his amount₹ 21,000. think hard
Purchase Credit Journal Entry (Definition) Step by Step Examples
WebThe following journal recordings will be required to rectify these errors. (a) Furnitue purchased was wrongly debited (instead of debiting the furniture account) to purchases … WebFeb 25, 2024 · Goods costing Rs. 25,000 sold to Pankaj for Rs. 35,000. The summary of effects of transactions on accounting equation 1-5 in the following analysis table : ... Purchased Machinery on credit Rs. 40,000 (c) Purchased goods for cash Rs. 20,000 (d) Purchased car for personal use Rs. 80,000 (e) Paid to creditors in full settlement Rs. … think hardly