Raja made sales of goods worth Rs. 40000 to Pradhan and received a part payment of Rs. 10000.

4. Journal of Raja


Date
Particulars
L.F.
Debit (Rs.)
Credit (Rs. )
1
Cash/Bank A/c ... Dr.

10000


Pradhan’s A/c  .... Dr.

30000


To Sales A/c


40000

[Being the goods sold and part payment received]



2
Bills Receivable A/c ... Dr.

30000


To Pradhan’s A/c


30000

[Being the accptance received from Pradhan]



3
Bills sent to Bank for Collection A/c ... Dr.

30000


To Bills Receivable A/c


30000

[Being the bill sent to the bank for collection]



4
Pradhan’s A/c ... Dr.

30000


To Bill sent to Bank for Collection A/c


30000

[Being the bill is dishonoured]



5
Cash/Bank A/c ... Dr.

15000


Bad debts A/c .... Dr.

15000


To Pradhan’s A/c


30000

[Being 50% of the amount due recovered from Pradhan]




In the Ledger of Raja
Pradhan’s Account

Date
Particulars
Amount
Date
Particulars
Amount
1.
To Sales A/c
[Credit Sales]
30000
2.
By Bills Receivable A/c
(Acceptance Received)
30000
4.
To Bill Sent to Bank for Collection A/c
(Bill sent to the bank)
30000
5.
By Cash / Bank A/c
[Amount recovered]
15000



5.
By Bad debts A/c
(Bad debts incurred)
15000








60000


60000

7 comments:

  1. 2019 hs papers for 1000rs each

    ReplyDelete
  2. why the ledger account is made?

    ReplyDelete
    Replies
    1. because it is given in the question that it is necessary to create Pradhan account in the ledger of raja

      Delete
  3. Please explain the 1st entry
    Sales entry is pradhan ac dr to sales but part payment entry is cash ac debit to pradhan ac. How the entry is combined.

    ReplyDelete