Question

Mention the subsidiary books in which the following transactions are recorded.

1. Sale of goods for cash
2. Sale of goods on credit
3. Purchases of goods on credit
4. When the proprietor takes goods for personal use
5. Goods returned to suppliers for which cash is not received immediately
6. Asset purchased as credit.

Answer 1

Sl. No.	Transactions	Subsidiary Books
i.	Sale of goods for cash	Cash Book
ii.	Sale of goods on credit	Sales Book
iii.	Purchases of goods on credit	Purchases Book
iv.	When the proprietor takes goods for personal use	Drawing, in Cash Book
v.	Goods returned to suppliers for which cash is not received immediately	Purchases Returns Book
vi.	Asset purchased as credit.	Cash Book