SALES RETURNS BOOK
This book includes all the returns by customers of credit sales of goods. The Credit note is used for recording entries in this book. The credit note contains the details of Customers and goods returned.
Illustration 8: From the following transactions, Prepare a SALES RETURNS BOOK of furnitures :-
| Alvin | Furnitures :2011 |
| July 9 | Returned by Anil furniture house (Credit note no. 209) 5 Tables @ Rs. 150 each 10 Chairs @ Rs. 100 each Trade discount @ 10% |
| July 30 | Returned by Jitesh Woods (Credit note no. 210) 1 Dressing tables @ Rs. 1700 each Trade discount @ 10% |
Solution :
In the books of M/s Alvin furnitures
SALES RETURNS BOOK
BILLS RECEIVABLE BOOK
This book is prepared when bills receivable is a routine matter of business. A bill receivable is drawn by the seller of goods to the buyer and is returned by the buyer after accepting it. This book keeps the records of all the bill receivable and how it is being disposed by the firm.
FORMAT OF BILLS RECEIVABLE BOOK
Date of From Whom Received Period of Due L.F. Amount How of disposed
Reciept
the bill
date
(In Rs.)
BILLS PAYABLE BOOK
This book keeps the records of all the bill payable that are accepted by the firm.
FORMAT OF BILLS PAYABLE BOOK
Date of
Accep-
tance
To Whom Given
Period of
The bill
Due
date
L.F.
Amount
(In Rs.)
How disposed
JOURNAL PROPER
All those transactions, which can not be recorded in any of the subsidiary books mentioned above, are recorded in the journal proper or General journal.
The following types of transactions are recorded in this :-
1.
Opening entries
2.
Closing entries
3.
Transfer entries
4.
Adjustment entries
5.
Rectifying entries
6.
Other entries
CBSE Accountancy Class XI ( By Mr. Aniruddh Maheshwari )
Email Id : [email protected]
