Journalise the following transactions:

Question

(i) Recieved  1,000 from Suresh in full settlement of his account for  1,150.

(ii) Received a first and final dividend of 50 paise in a rupee from the Official Receiver of Kamal, who owed us  1,200.

(iii)Paid to Amit 150 in full settlement of 175. (iv) Paid 2,000 to Shyam on his account for  2,400.

(v) Received  700 for Ramesh on his account for 800.

(vi)Received 1,200 for Harish on behalf of Mukul.

Answer 1

(i)  Cash A/c  .....................Dr  1000

Discount allowed A/c .........Dr    150

           To Suresh A/c          ....................1150

(being received as full settlement from suresh)

(ii) Cash  A/c   ........Dr       600

Bad debts A/c  .........Dr     600

       To Kamal  A/c            .............. 1200

(being cash received from Kamal)

(iii) Amit A/c ..............................Dr. 150

      Discount allowed A/c ....... ..Dr. 25

                               To cash A/c .............. 175

(Being cash paid)

(iv) Shyam A/c ..............................Dr. 2000

      Discount allowed A/c ....... ..Dr. 400

                                  To cash A/c .............. 2400

(Being cash paid)