Question No 03 Chapter No 5 - D.K Goal Class 11

Question No 03 Chapter No 5

Q.3 Enter the following transaction in the journal of Ganesh bros:

2017
Mar.3	Sold goods to Dev	1,00,000
Mar.5	Received from Dev in full settlement of his account	98,000
Mar.6	Sold goods to Manmohan	80,000
Mar.8	Manmohan returned goods	1,000
Mar.15	Received from Manmohan in full settlement of his account	78,200
Mar.16	Received cash from Ram	19,500
	and discount allowed	500
Mar.20	Paid cash to Pawan	4,700
	and discount received from him	300
Mar.25	Sold goods to Varun of the list price of 25,000 at 20% trade discount

The solution of Question No 03 Chapter No 5: –

In the Books of Ganesh bros
Date	Particulars		L.F.	Debit	Credit
2019
Mar.3	Dev’s A/c	Dr.		1,00,000
	To Sales A/c				1,00,000
	(Being Goods sold to Dev.)

Mar.5	Cash A/c	Dr.		98,000
	Discount Allowed A/c	Dr.		2,000
	To Dev’s A/c				1,00,000
	(Being Cash received from Dev in full settlement of his account)

Mar.6	Manmohan’s A/c	Dr.		80,000
	To Sales A/c				80,000
	(Being Goods sold to Manmohan)

Mar.8	Sales Return A/c	Dr.		1,000
	To Manmohan’s A/c				1,000
	(Being Goods returned to Manmohan.)

Mar.6	Cash A/c	Dr.		36,000
	To Sales A/c				36,000
	(Being Sold goods for cash.)

Mar.15	Cash A/c	Dr.		78,200
	Discount Allowed A/c	Dr.		800
	To Manmohan’s A/c				80,000
	(Being Cash received from Manmohan in full settlement of his account)

Mar.16	Cash A/c	Dr.		19,500
	Discount Allowed A/c	Dr.		500
	To Ram’s A/c				20,000
	(Being Cash received from Ram and discount allowed)

Mar.20	Pawan’s A/c	Dr.		5,000
	To Cash A/c				4,700
	To Discount Received A/c				300
	(Being Cash received from Ram and discount allowed)

Mar.25	Varun’s A/c	Dr.		20,000
	To Sales A/c				20,000
	(Being Goods sold @20.)