Question

State whether the balance of the following accounts should be placed in the debit or the credit column of the trial balance:

1. Carriage outwards
2. Carriage inwards
3. Sales
4. Purchases
5. Bad debts
6. Interest paid
7. Interest received
8. Discount received
9. Capital
10. Drawings
11. Sales returns
12. Purchase returns

Answer 1

Trial balance as on 31^st March, 2017

S. No.	Name of the account	Debit balance ₹	Credit balance ₹
i.	Carriage outwards	XXX
ii.	Carriage inwards	XXX
iii.	Sales		XXX
iv.	Purchases	XXX
v.	Bad debts	XXX
vi.	Interest paid	XXX
vii.	Interest received		XXX
viii.	Discount received		XXX
ix.	Capital		XXX
x.	Drawings	XXX
xi.	Sales returns	XXX
xii.	Purchase returns		XXX