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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 / mohd rayees
for buyer entry....
Laptop a/c ..... Dr 50000
calculator a/c .....Dr 1000
To cash a/c 50000
To Discount a/c 1000
instant the above entry you can use one more entry for
buyers
Stationary a/c ....... Dr 51000
To cash a/c 50000
To Discount a/c 1000
note: above two entris any one entry can use the accountant
in day book
For seller
cash a/c Dr 50000
Discount a/c Dr 1000
To Laptop a/c 50000
to calculator a/c 1000
Note : the seller is not use combined entry because the
sellers must entry particular item to know how to sell
occurs.
(Mohd Rayees, Cell 9908841874)
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