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Unit 5: Preparation of Journal, Ledger and Balancing
Sales Book Notes
Date Particulars L.F. Details Amount
( ) ( )
2008
Jan. 7 Shobhit & Co.: Sale of goods 17,800
(–) 20% discount 3,560 14,240
Jan. 12 Karim: Sale of goods 12,800
Jan. 31 Total: Sale – Credit balance 27,040
Purchase Book
Date Particulars L.F. Details Amount
( ) ( )
2008
Jan. 5 Lalit Mohan & Co.: Goods purchased 11,600
(–) 10% Discount 1,160 10,440
Jan. 21 Krishna & Co. 17,400
Jan. 31 Total: Purchases debited 27,840
Sales Return Book
Date Particulars L.F. Details Amount
( ) ( )
2008
Jan. 18 Karim: Sales return 800
Jan. 31 Sales Return debited 800
Purchase Return Book
Date Particulars L.F. Details Amount
( ) ( )
2008
Jan. 29 Krishna & Co.: Returns 1,200
Jan. 31 Purchase Returns Credited 1,200
!
Caution The points to be observed at the moment of journalising:
1. The nature of the accounts to be identified
2. The accounts to be correlated to the golden rules
3. The entry to be passed through proper debiting and crediting of the accounts
respectively.
LOVELY PROFESSIONAL UNIVERSITY 71
