Books of ABC Co. Ltd.
June 5 To Sales a/c 24000 June 1 By Bal b/d 20000
12 By Bank a/c 2800
12 By Sales Return a/c 500
12 By Discount a/c 700
Given account is Rajesh a/c in the books of ABC Co. Ltd. It is a PERSONAL ACCOUNT. Period covered by this account is from 1st june 2006 to 30th June 2006
Comments on Individual transactions
(On 1st June 2006 ABC CO. has to pay Rs 20000 to Rajesh maybe on Account of Advance against Order)
2. Rajesh a/c Dr. 24000
To Sales a/c 24000
(On 5th June 2006 ABC Co. Ltd has sold goods to Rajesh Of Rs 24000 on Credit)
3. Bank a/c Dr. 2800
To Rajesh a/c 2800
(On 12th June 2006 ABC Co. Ltd has received a cheque of Rs 2800 from Mr. Rajesh)
4. Sales Return a/c Dr. 500
To Rajesh a/c 500
(On 12th June 2006 ABC Co. Ltd has recd. goods of Rs 500 returned by Mr. Rajesh a Customer)
5. Discount a/c Dr. 700
To Rajesh a/c 700
(On 12th June 2006 ABC Co. ltd has allowed a discount of Rs 700 to Mr. Rajesh a Customer)
Rajesh is a customer or debtor of ABC Co. Ltd.
Rajesh Paid Advance to the company against order.
The Company also allowed a Discount to Mr. Rajesh.