Journalise the following transactions in the books of Vijay Furniture, Delhi:

(i) Sold goods costing ₹ 1,50,000 to Asha at a profit of 20% on sales less 10% Trade Discount. Paid cartage of ₹ 1,250 to be charged from Asha.

(ii) Goods sold to Mohan costing ₹ 75,000 at a Trade Discount of 10% and paid cartage of ₹ 750 (not to be charged from customer).

(iii) Received ₹ 1,000 from Sohan, which were written off as bad debts in previous year.

(iv) Purchased a machinery on credit for ₹ 75,000 from Usha Tools Ltd. paid ₹ 10,000 for its loading and ₹ 2,500 for its installation.

(v) Used timber of ₹ 20,000 for making office furniture.

(vi) Timber costing ₹ 10,000 were used by the owner in making furniture to be used at his residence.

Anurag Pathak Changed status to publish September 19, 2023
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