Question

From the following transactions, prepare Sales Book in the books of Shree Prabhat Hardware Stores who is an iron trader:

2015
June 1 Sold goods of ₹ 20,000 to Neha on 3 months credit and bill no. 80 sent.
8 Sold goods of ₹ 10,000 to Vidhi Store at 5 % trade discount and sent bill no. 85 with carriage of ₹ 400.
12 Sold goods of ₹ 15,000
15 Sold machinery of ₹ 10,000 for ₹ 3,000 of Krima.
23 Sold goods of ₹ 15,000 to Shimoli at 10 % trade discount, and half of the amount immediately paid by Shimoli. Bill no. 90.
28 Sold goods of ₹ 20,000 to Riddhi at 10 % cash discount on cash.
29 Meet placed an order for supply of goods of ₹ 15,000.
30 Sold goods of ₹ 30,000 to Vraj at 10 % trade discount. Bill no. 95.

Answer 1

Note :

(1) Here, total credit sales is of ₹ 70,000 which will be recorded on credit side of Sales A/c.
(2) The following transactions will not be recorded in Sales Book:
(i) Date 12 Cash sales.
(ii) Date 15 Transaction of sales of asset (machinery).
(iii) Date 28 Cash sales.
(iv) Date 29 Non-economic transaction.
(3) Transaction of Date 23 is recorded considering the whole transaction, a credit transaction. (4) Date 8 Carriage ₹ 400 will be recorded in the Journal proper.