Question

Rectify the following errors:

1. Depreciation provided on machinery ₹ 4,000 was not posted.
2. Bad debts written off ₹ 5,000 were not posted.
3. Discount allowed to a debtor ₹ 100 on receiving cash from him was not posted.
4. Discount allowed to a debtor ₹ 100 on receiving cash from him was not posted to discount account.
5. Bill receivable for ₹ 2,000 received from a debtor was not posted.

Answer 1

Journal Entries
Sr. No.	Particulars	L.F.	Debit Amount ₹	Credit Amount ₹
(a)	Depreciation A/c    ...Dr.		4,000	-
	To Machinery A/c		-	4,000
	(Depreciation on machinery was not posted, now rectified)
(b)	Bad debts A/c    ...Dr.		5,000	-
	To Debtors A/c		-	5,000
	(Bad debts written off were not posted, now rectified)
(c)	Discount Allowed A/c    ...Dr.		100	-
	To Debtors A/c		-	100
	(Discount allowed to debtors was not posted, now rectified)
(d)	Discount Allowed A/c    ...Dr.		100	-
	To Suspense A/c		-	100
	(Discount allowed to debtors was not posted in Discount Account, now rectified)
(e)	Bills Receivable A/c    ...Dr.		2,000	-
	To Debtors A/c		-	2,000
	(Bill receivable received from debtor was not posted, now rectified)