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Received a cheque of Rs 75000/- from Kirthi traders on
behalf of anurag traders for material supply
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Answer / satyaki_raju@yahoo.com
Mr Bhardwaj I think you didnt understand the question put
by me well.You received cheque from kirthi traders.But
kirthi traders is not your customer. I will explain the
question once again pl understand
Anurag traders is your distributor. As per the routing
instructions given by him you supplied materials to
Kirthi,Kirthi as per the instructions of Anurag Traders
sent a cheque to you.Then the entry will be
Bank a/c dr 75000/-
To Anurag traders 75000/-
(Being cheque recd thru Kirthi traders)
Your answer unnecessarilly created a credit in the name of
Kirthi traders which canot be closed.
Your journalisation is no way correct
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| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / s.k.barat
There can be no different answer than that given by you
Mr.Satyaki but the question may perhaps be slightly
modified by stating that the material was supplied to
Kirthi Traders on instruction of Anurag Traders and that
though the sale was made to Anurag Traders, material was
diverted or sent to Kirthi Traders.This aspect was not very
clear though quite understandable.
The first entry:
Anurag Traders Dr.Rs.75000/-
To Sales A/c Rs.75000/-
(Being the material sent to Kirthi Traders as instructed by
Distributor)
might not have been understood.
| Is This Answer Correct ? | 2 Yes | 4 No |
Answer / balaji
Mr Raju i think the journal entry is as follows
bank a/c Dr 75000
To Kirthi a/c 75000
( Being Cheque received from kirthi traders)
why because we can receive cheque from kirthi traders so we
wrote that point
| Is This Answer Correct ? | 0 Yes | 3 No |
Answer / bharadwaj
bank a/c dr.... 37500
meterial a/c ... 37500
to kirthi traders 75000/-
| Is This Answer Correct ? | 2 Yes | 11 No |
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