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You are requested to enter the following transactions in the Sales Book of Tejas and Co.

2015

 

Dec 1

Sold to Bharat Brothers on credit

 

800 Chairs @  Rs.1,650 each.

 

400 Almirahs @ Rs.1,425 each.

 

Less: Trade Discount @ 15%

 

 

Dec 5

Sold to Hindustan Ltd. on credit

 

500 Tables @ Rs.1,650 each.

 

130 Chairs @Rs. 2,100 each.

 

 

Dec 12

Sold old machinery to M/s Ramlal and Sons @ Rs.3,150 on credit

 

 

Dec 20

Sold on credit to Indian Mart

 

925 tables @ Rs.1,800 each.

 

175 chairs @ Rs.2,200 each.

 

Less: Trade Discount @20%

 

 

Dec 28

Sold to Bhandare and Company for cash

 

250 Almirahs @ Rs.1,650 each.

 

100 chairs @Rs.2,950.

 

 

Asked by Topperlearning User 11th July 2016, 4:49 PM
Answered by Expert
Answer:

In the Books of Tejas and Co.

Sales Book

Date

Particulars

L.F.

Details

Rs. 

Amount

Rs. 

2015

 

 

 

 

Dec 1 

Bharat Brothers 

 

 

 

 

800 Chairs @ Rs.1650 each

 

13,20,000

 

 

400 Almirahs @Rs. 1425 each

 

5,70,000

 

 

 

 

18,90,000

 

 

Less: Trade Discount @15%

 

2,83,500

16,06,500

 

Sales as per Invoice No. ____ dated_________

 

 

 

Dec 5 

Hindustan Ltd. 

 

 

 

 

500 Tables @ Rs.1650 each.

 

8,25,000

 

 

130 Chairs @Rs. 2100 each

 

3,73,000

11,98,000

 

Sales as per Invoice No. ____ dated_________

 

 

 

Dec 20

Indian Mart 

 

 

 

 

925 tables @ Rs.1800 each

 

16,65,000

 

 

175 chairs @ Rs.2200 each

 

3,85,000

 

 

 

 

20,50,000

 

 

Less: Trade discount @ 20%

 

4,10,000

16,40,000

 

Sales as per Invoice No. ____ dated_________

 

 

 

Dec 31

Sales A/c Cr.

 

 

44,44,500

 

Working Notes:

 i. Sales of old machinery will not be recorded in sales book as it is not goods which the firm deals in. It is an asset of the firm and not goods (stock).

 ii. Cash sales made on 28th Dec will be recorded in cash book as it is a cash transaction and is not credit.

Answered by Expert 11th July 2016, 6:49 PM
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