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i have purchase goods for Rs.100 and company say you sell
this goods for Rs. 80 and raised a debit note for diffrence
amount and he fix 5 % commision on sales value what is
journal entry passed in tell with narration?
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Answer Posted / iyyanar
1)Purchase a/c Dr. Rs.100
To Creditor A/c Rs. 100
Purschased goods for for Rs.100
2)
Cash A/C Rs. 80
Commision A/C Rs. 3.2
To Sales A/C Rs. 83.2
sold goods for Rs. 83.2
3) Sales Return Rs. 20
To Cash A/C Rs. 20
Goods returned by customer
| Is This Answer Correct ? | 3 Yes | 9 No |
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