From the following transactions, prepare the Sales Return Book of Kay & Co. a readymade garments dealer: Date Particulars 06/12/2024 Return receive...

Question

From the following transactions, prepare the Sales Return Book of Kay & Co. a readymade garments dealer: Date Particulars 06/12/2024 Return received from Aar Store 30 shirts @ Rs. 300 / - and 15 trousers @ Rs. 500/- each , Less: Trade Discount @ 8% 12/12/2024 Modern tailors returned 10 frocks (which were sold for cash) @ Rs. 200/- each. 16/12/2024 Return received from Tulip Store - 12 T-shirts @ Rs. 100/- each. Less: Trade discount @ 10%.

Accepted Answer

Answer Solution: In the books of Kay & Co. Sales return book Date Particulars Credit Note No. Details Amount 6/12/24 Aar Store 30 Shirts @ 300 /- per each 15 Shirts @ 500 / - per each Less: Trade Discount @ 8% 9,000 7,500 16,500 (1,320) 15,180 16/12/24 Tulip Store 12 T-Shirts@ 100/ - per each Less: Trade Discount @ 10% 1,200 (120) 1,080 TOTAL 16,260 Note: Returns from Modern fashions on 12 Dec, 2024 arc assumed as returns in cash, since goods were sold in cash. UNIT – 6 (RECTIFICATION OF ERRORS)

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