Question

Record the following transactions in the sales book and sales returns book of M/s. Ponni & Co., and post them to ledger. 

2017:

1. Aug. 1 – Sold goods to Senthil as per Invoice No. 68 for Rs. 20,500 on credit 

2. Aug. 4 – Sold goods to Madhavan as per Invoice No. 74 for Rs. 12,800 on credit

3. Aug. 7 – Sold goods to Kanagasabai as per Invoice No. 78 for Rs. 7,500 on credit 

4. Aug. 15 – Returns inward by Senthil as per Credit Note no. 7 for Rs. 1,500 for which cash is not paid 

5. Aug. 20 – Sold goods to Selvam for Rs. 13,300 for cash 

6. Aug. 25 – Sales returns of Rs. 1,800 by Madhavan as per Credit Note No. 11 for which cash is , not paid

Answer 1

In the books of M/s Ponni & Co., 

Sales book

Sales returns book

Ledger Accounts in the books of M/s Ponni & Co. 

Sales A/c

Sales Return A/c

Senthil A/c

Madhavan A/c

Kanagasabai A/c