CBSE Class 11-commerce Answered
Sold goods ₹1,50,000 to Sudhir of Punjab(IGST@18%) record journal entries and balancing of ledger.
Asked by Lakshmibhargavirekha | 18 Jul, 2019, 04:18: PM
Expert Answer
Goods have been sold to the buyer in the state of Punjab. Therefore, for a seller in Maharashtra it is an inter state sale.
Entry to be passed for Inter State Sale is as follows:
Debtor's/Cash/Bank A/c Dr.
To Sales A/c
To Output IGST A/c
Therefore, assuming that Sudhir is a debtor for the seller, entry will be as follows:
Sudhir's A/c Dr. 1,77,000
To Sales A/c 1,50,000
To Output IGST@18% A/c 27,000
Answered by Surabhi Gawade | 19 Jul, 2019, 10:25: AM
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