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purchased a laptop for Rs.50000 and received one calculator
costing Rs.1000 for free. Both laptop and calculator
(stationery in nature) are meant for office use.What will
be the journal entry in the books of both the parties?
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Answer Posted / sanjay ramesh manglorkar
Example : Sanjay has purchased laptop & calculator from ABC Co.
1)a) For Sanjay(Purchaser)/first for bill booking in tally open journal voucher.
purchase laptop a/c Dr.50000
purchase calculator a/c Dr.1000
discount received on calculator Cr.1000
name of the Seller (ABC co.) Cr.50000
b)In Tally now Payment Voucher Entry
ABC Co. (Seller) Dr. 50000
Bank A/c /Cash A/c Cr.50000
2)In ABC Co.(Seller)
a)In tally open Sale voucher Entry
material sold (laptop) Cr. 50000
material sold (calculator) Cr. 1000
Discount given on calculator Dr.1000
Purchaser (Sanjay) Dr.50000
b) Now in Tally Receipt Voucher entry
Bank A/c / Cash A/c Dr.50000
Purchaser (Sanjay A/C) Cr.50000
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Mohan sold goods on 1st sep 2009 for the rs 200000/- to sohan immediatly accepted a 3 month bill.on the due date sohan request for the renewal of the bill for further peirod of two month .mohan agree to pay interest @9% per annum to be inculuded in the new bill . determine the amount of new bill?
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