7. Enter the following transactions in the books of Vijay in Purchase Book, Sales Book, Purchase Return book, Sales return Book and Journal proper for the month of August 2018.

Enter the following transactions in the books of Vijay in Purchase Book, Sales Book, Purchase Return book, Sales return Book and Journal proper for the month of August 2018

2018 Aug.

01. Purchased goods from Vikas Stores Rs.18,000 at 5% Trade Discount.

02. Sold goods of Rs.9,000 to Prabhakar Traders.

05. Veena sold goods of Rs.16,000to us at 5% Trade Discount as per our order dated 28th July, 2018.

08. Sent a Debit Note to Vikas Stores Rs.1,600 [Gross] for goods returned. 

10. Sold goods of Rs.12,000 on Credit to Shamal & Sons at 6% Trade Discount.

18. Received Credit Note from Veena Rs.9,000 [Gross] for goods returned.

22. Sent Credit Note to Parbhakar Traders for Rs.1,500 for goods returned. Received Debit note from Shamal & Sons for Rs.1,200 [Net] for goods returned.

23. Purchased goods of Rs.16,600 from Priya Stores and paid for Carriage Rs.150

25. Purchased goods from Sadhana Stores Rs.12,000 and Sold the same to Aradhana Stores at a profit of 20% on cost.

28. Aradhana Stores returned goods of Rs.2,400 as they were defective and the same were returned to Sadhana Stores. 

31. Purchased Furniture for office use Rs.30,000 from Art Furniture Works on credit.

Solution:
In the Books of Vijay for the month of August 2018.

               Purchase Book

Date	Particulars	Inward Invoice No.	L.F	Amount
2018 Aug. 1	Vikas Stores			17,100
5	Veena			15,200
23	Priya Stores			16,600
25	Sadhana Stores			12,000
	Total			60,900

                    Sales Book

Date	Particulars	Outward Invoice No.	L.F	Amount
2018 Aug. 2	Prabhakar Traders			9,000
10	Shamal & Sons			11,280
25	Aradhana Stores			14,400
	Total			34,680

 

          

Purchase Return Book

Date	Particulars	Debit Note No.	L.F	Amount
2018 Aug. 8	Vikas Stores			1,520
22	Shamal & Sons			1,200
28	Sadhana Stores			2,000
	Total			4,720

 

Sales Return Book

Date	Particulars	Credit Note No.	L.F	Amount
2018 Aug. 18	Veena			855
22	Prabhakar Traders			1,500
28	Aradhana Stores			2,400
	Total			4,755

Journal Entries

In The Books of Vijay for the month of August 2018.

Date	Particulars	L.F	Debit	Credit
2018  Aug. 31	Furniture A/c         Dr.          To Arts of                        Furniture            works A/c  [Being Purchased Furniture for office use on credit]		30,000	30,000
			30,000	30,000

Working Note:

Transaction dated 28 - 8 - 2018 value of goods returned to Sadhana Stores.

 [Price of goods received from Aradhana Stores] = 100/100+20

                                                                      = 2,400*100/120

                                                                      = 2,000

Note: Transaction dated 31st August 2018 is related to purchase of Furniture on credit, hence it will not be recorded in the above books.