Question 11b Chapter 4 – Unimax Publications of Class 11

Question 11b Chapter 4 – Unimax Publications of Class 11

11b Pass journal entries for the following:
2021
Dec. 1 Bought goods from Johny worth Rs. 1,00,000 at 10% T.D. and 10% C.D. Paid full amount at the time of purchase itself.
Dec. 4 Bought goods from Bhatia for Rs. 2,00,000 at 10% cash discount and 10% Trade discount. Half of the amount paid by cheque at the time of purchase.
Dec. 12 Sold goods to Sunny for Rs. 2,00,000 on terms 10% Trade discount and 10% Cash discount. If the payment is received within 10 days. 80% payment is received on Dec. 20 by cheque.
Dec. 18 Sold goods to Bunny for Rs. 2,00,000 at 20% Trade discount and 20% cash discount. If the payment is received within 15 days. He paid half the amount on Dec. 26 and 50% of the remainder on Dec. 31.
Dec. 20 Rahul to whom Rs. 10,000 was payable. His account settled by receiving of 5%.
Dec. 22 Shivani who owed Rs. 6,000 paid the amount in full settlement of her availing 2% discount.
Dec. 26 Paid Rs. 4,800 to Ravi availing a discount of 4%.
Dec. 28 Received Rs. 9,800 by cheque from Shriya allowing her 2% discount

The solution of Question 11b Chapter 4 – Unimax Publications of Class 11:

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