SALES BOOK/SALES JOURNAL
In this book, transactions of credit sales of goods are recorded. The source document for this book is duplicate copy of invoice/bills issued to the customers.
Transactions not recorded in Sales Book
Illustration 6 : from the following transactions, Prepare a SALES BOOK of Alvin Furnitures:
| July 7 | Sold to Anil furniture house (Invoice no. 107) 200 Tables @ Rs. 150 each 100 Chairs @ Rs. 100 each Trade discount @ 10% |
| July 15 | Sold Air Conditioner to Ram Rs. 12000 |
| July 20 | Sold to Rama Furnitures (Cash Memo no. 3001) 10 Beds @ Rs. 2500 each |
| July 29 | Sold to Jitesh Woods (Invoice no.-506) 10 Dressing tables @ Rs. 1700 each 5 tables @ Rs. 500 each Trade Discount @ 10% |
Solution :
In the books of M/s Alvin furnitures
SALES BOOK
Note :
- Transaction of July 15 is related to sale of asset,
- Sale to Rama furnitures is made for cash,
hence not recorded in Sales Book.PURCHASES RETURNS/ RETURNS OUTWARD BOOK
This book includes only those transactions which are related to returns of goods bought on credit. The goods may be returned due to various reasons such as goods bought being defective, supply of inferior quality goods etc.
Entries in this book are made on the basis of Debit Note. A debit note contains the name of the supplier to whom goods are being returned, details of goods returned.
Illustration 7: Enter the following transactions in the Purchases returns book of Ramesh stationery house :
2011 Aug. 5 Returned to Agarwal Book House (Debit note no. -105) 5 Dozen Pencils @ Rs. 30 per dozen Trade discount @ 10% Aug. 10 Returned to Shivani Bros. (Debit note no. 106) 5 Resisters @ Rs. 50 each Solution :
In the books of M/s Ramesh Stationers
PURCHASES RETURNS BOOK
NOTE : Trade discount will be deducted if it was allowed at the time of purchase of goods.
CBSE Accountancy Class XI ( By Mr. Aniruddh Maheshwari )
Email Id : [email protected]
