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Question
Record the following transactions in the sales book and sales returns book of M/s. Ponni & Co., and post them to ledger.
| 2017 | Particulars |
| Aug. 1 | Sold goods to Senthil as per Invoice No. 68 for ₹ 20,500 on credit |
| Aug. 4 | Sold goods to Madhavan as per Invoice No. 74 for ₹ 12,800 on credit |
| Aug. 7 | Sold goods to Kanagasabai as per Invoice No. 78 for ₹ 7,500 on credit |
| Aug. 15 | Returns inward by Senthil as per Credit Note no. 7 for ₹ 1,500 for which cash is not paid |
| Aug. 20 | Sold goods to Selvam for ₹ 13,300 for cash |
| Aug. 25 | Sales returns of ₹ 1,800 by Madhavan as per Credit Note No. 11 for which cash is not paid |
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Solution
In the books of M/s Ponni & Co.,
Sales book
| Date | Particulars | Invoice No. | L.F. | Amount ₹ | |
| Details | Total | ||||
| 2017 | |||||
| Aug. 1 | Senthil | 68 | 20,500 | ||
| Aug. 4 | Madhavan | 74 | 12,800 | ||
| Aug. 7 | Kanagasabai | 78 | 7,500 | ||
| Sales A/c .......Cr. | 40,800 | ||||
Sales returns book
| Date | Particulars | Credit Note No. | L.F. | Amount ₹ | Remarks |
|
| Details | Total | |||||
| 2017 | ||||||
| Aug. 1 | Senthil | 7 | 1,500 | Cash is not paid | ||
| Aug. 25 | Madhavan | 11 | 1,800 | Cash is not paid | ||
| Sales Returns book .........Dr. | 3,300 | |||||
Ledger Accounts in the books of M/s Ponni & Co.
Sales A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| Aug. 31 | To Balance c/d | 40,800 | Aug. 31 | By Sundry debtors | 40,800 | ||
| 40,800 | 40,800 | ||||||
| Sep. 1 | By Balance b/d | 40,800 |
Sales Return A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| Aug. 31 | To Sundry debtors | 3,300 | Aug. 31 | By Balance c/d | 3,300 | ||
| 3,300 | 3,300 | ||||||
| Sep. 1 | By Balance b/d | 3,300 |
Senthil A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| Aug. 1 | To Sales A/c | 20,500 | Aug. 15 | By Sales return A/c | 1,500 | ||
| Aug. 31 | By Balance c/d | 19,000 | |||||
| 20,500 | 20,500 | ||||||
| Sep. 1 | By Balance b/d | 19,000 |
Madhavan A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| Aug. 4 | To Sales A/c | 12,800 | Aug. 25 | By Sales return A/c | 1,800 | ||
| Aug. 31 | By Balance c/d | 11,000 | |||||
| 12,800 | 12,800 | ||||||
| Sep. 1 | By Balance b/d | 11,000 |
Kanagasabai A/c
Dr. Cr.
| Date | Particulars | J.F. | Amount ₹ | Date | Particulars | J.F. | Amount ₹ |
| 2017 | 2017 | ||||||
| Aug. 7 | To Sales A/c | 7,500 | Aug. 31 | By Balance c/d | 7,500 | ||
| 7,500 | 7,500 | ||||||
| Sep. 1 | By Balance b/d | 7,500 |
