Question

Rectify the following errors:

1. Sales book overcast by ₹ 700.
2. Purchases book overcast by ₹ 500.
3. Sales return book overcast by ₹ 300.
4. Purchase returns book overcast by ₹ 200.

Answer 1

Journal Entries
Sr. No.	Particulars	L.F.	Debit Amount ₹	Credit Amount ₹
(a)	Sales A/c         ...Dr.		700	-
	To Suspense A/c		-	700
	(Sales Book overcast by ₹ 700, now rectified)
(b)	Suspense A/c       ...Dr.		500	-
	To Purchases A/c		-	500
	(Purchases Book overcast by ₹ 500, now rectified)
(c)	Suspense A/c       ...Dr.		300	-
	To Sales Return A/c		-	300
	(Sales Return Book overcast by ₹ 300, now rectified)
(d)	Purchases Return A/c         ...Dr.		200	-
	To Suspense A/c		-	200
	(Purchases Return Book overcast by ₹ 200, now rectified)