Pass Journal entries to record the following transactions in the books of Subasis Sarkar, Kolkata:

Pass Journal entries to record the following transactions in the books of Subasis Sarkar, Kolkata:

(i) Purchased from Kamal Banerjee, Kolkata as per details:

(a) List Price ₹ 70 per pen.

(b) Trade Discount @ 10% and Cash Discount 5%.

(c) 1,000 pieces were purchased and amount was paid immediately by cheque.

(ii) Sold to Sengupta of Patna as follows:

(a) List Price ₹ 140 per pen.

(b) Trade Discount 5% and Cash Discount 5%

(c) 500 pieces were sold and cheque was received immediately.

(iii) Sold 300 pieces to Duttagupta, Kolkata on the following terms:

(a) List Price ₹ 70 per pen.

(b) Trade Discount 5% and Cash Discount 5%, if payment is made within 7 days of sales. Duttagupta made payment after 21 days.

(iv) Rajan who owed ₹ 10,000 settled his account by paying ₹ 9,900.

(v) Settled Ajay’s Account of ₹ 15,000 by paying ₹ 14,500.