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Record the following transactions in purchase return book (i) 2 Banarsi sarees Rs 2,000 each and 2 Kanjivaram sarees Rs 12,500 each were bought from Neema Mills, trade discount on all items 20%. However, on delivary these sarees were found defective and were returned back with debit note no.03/2016. (ii) Returned to Payal Mills ,Surat -5 polyster sarees Rs 200 each Trade discount 10% (Debit Note No.101) (iii) Garg Mills, Kota accepted the returns of goods (which were purchased for cash) from us, 5 Kota sarees Rs 80. (Debit Note No.102) (iv) Returned to Mittal Mills, Bangalore, 5 Silk sarees Rs 520 each Trade discount 10% (Debit Note No.103) (v) Returned one typewriter (being defective) Rs 7,000 to Bansal & Co Also prepare purchase return account and Neema Mills account. |
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Answer» Record the following transactions in purchase return book (i) 2 Banarsi sarees Rs 2,000 each and 2 Kanjivaram sarees Rs 12,500 each were bought from Neema Mills, trade discount on all items 20%. However, on delivary these sarees were found defective and were returned back with debit note no.03/2016. (ii) Returned to Payal Mills ,Surat -5 polyster sarees Rs 200 each Trade discount 10% (Debit Note No.101) (iii) Garg Mills, Kota accepted the returns of goods (which were purchased for cash) from us, 5 Kota sarees Rs 80. (Debit Note No.102) (iv) Returned to Mittal Mills, Bangalore, 5 Silk sarees Rs 520 each Trade discount 10% (Debit Note No.103) (v) Returned one typewriter (being defective) Rs 7,000 to Bansal & Co Also prepare purchase return account and Neema Mills account. |
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