Question

Prepare Purchase Book in the books of Shri Suresh:

2018
Oct. 1 Purchased goods of ₹ 10,000 from Dipak on one month credit.
3 Purchased goods of ₹ 20,000 from Sardar Stores at 10 % trade discount. Invoice no. 116
7 Purchased goods of ₹ 18,000 from Pankaj on cash.
15 Placed order with Rajesh for supply goods of ₹ 20,000 at 10% trade discount.
20 Purchased furniture of ₹ 16,000 from Vyas Furniture Mart on one month credit.
21 Rajesh has sent goods as per our order and sent invoice no. 350 after adding ₹ 1,000 for railway freight.
24 Purchased goods of ₹ 14,000 at 5 % cash discount.
25 Purchased goods of ₹ 30,000 from Nilesh at 10 % trade discount and half of the
amount paid immediately by cheque.
26 Purchased goods of ₹ 15,000 from Chirag at 10 % trade discount and 5% cash
discount. Amount paid immediately.
30 Purchased goods of ₹ 40,000 from Nitin. Invoice no. 151.

Answer 1

Note :

(1) Total Credit Purchase is of ₹ 1,13,000. This amount will be debited on debit side of Purchase A/c.
(2) The following transactions will not be recorded in Purchase Book:
(i) Date 7 Transaction of cash purchases
(ii) Date 15 Non-economic transaction
(iii) Date 20 Purchase of furniture [fixed asset) on credit
(iv) Date 24 Transaction of cash purchases
(v) Date 26 Transaction of cash purchases
(3) Transaction of Date 25 is recorded considering the whole transaction, a credit transaction.
(4) Date 21 Railway freight of ₹ 1,000 will be recorded in the Journal proper.