CBSE Class 11-commerce Answered
An old machinery is sold to mansh for 50000 name the book in which this entry will be recorded
Asked by Manalshameem123 | 16 Sep, 2019, 01:36: AM
Expert Answer
A Journal Proper records all the transactions which cannot be recorded in any other subsidiary book prepared by the business which may be cash book, purchases book, purchases return book, sales book, sales return book, bills receivable book and bills payable book. For example, credit purchases of fixed assets, goods distributed as free sample, credit sales of fixed assets and depreciation on fixed assets.
Since, in the mentioned statement, Machinery has been sold to Mansh for Rs. 50,000 and no details of the payment made have been specified, it is considered as a credit sale of Machinery and therefore, recorded in the Journal Proper.
Answered by Surabhi Gawade | 16 Sep, 2019, 11:26: AM
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