Question

Rectify the following errors:

1. Sales book is undercast by Rs. 100.

2. Sales book is overcast by Rs. 200. 

3. Purchase book is undercast by Rs. 300. 

4. Purchase book is overcast by Rs. 400. 

5. Purchase return boojt is undercast by Rs. 100

Answer 1

1. Sales account should be credited with Rs. 100, 

2. Sales account should be debited with Rs. 200.

3. Purchase account should be debited with Rs. 300. 

4. Purchase account should be credited with Rs. 400. 

5. Purchase return account should be credited with Rs. 100.