Prepare Aparna's account in books of suparna. Balance due from Aparna Rs.60,000. Sold goods to Aparna Rs.15,000 at 10% Trade Discount. Goods returned by Aparna Rs.1,500 {gross} Received crossed cheque from Aparna Rs.50,000. Invoiced goods to Aparna Rs.12,000. Sold goods to Aparna in cash Rs.6,000. Received cash from Aparna Rs.33,000 in full settlement of her account.

Prepare Aparna's account in books of suparna.

2019 Jan. 

1. Balance due from Aparna Rs.60,000. 
4. Sold goods to Aparna Rs.15,000 at 10% Trade Discount. 
7. Goods returned by Aparna Rs.1,500 {gross} 
11. Received crossed cheque from Aparna Rs.50,000. 
17. Invoiced goods to Aparna Rs.12,000. 
25. Sold goods to Aparna in cash Rs.6,000. 
30. Received cash from Aparna Rs.33,000 in full settlement of her account 

Solution: 

Dr.           Aparna's Account         Cr. 

Date	Particulars	L.F	Amt	Date	Particulars	L.F	Amt
2019 Jan. 1	To Balance b/d		60,000	2019 Jan. 7	By Sales return A/c		1,350
4	To Sales A/c		13,500	11	By Bank A/c		50,000
17	To Sales A/c		12,000	30	By Cash A/c		33,000
				31	By Discount allowed A/c		1,150
			85,500				85,500

 

Explanatory Notes:

1) Balance due from Aparna Rs.60,000:

 In the last month of Aparna Ledger Account as balance Rs.60,000 which is not received therefore it has written as balance due and it carried from December 31st to the current month which is First of January. It will state on debit side because the Balance is due means Suparna has to take money fro Aparna. So, in the month of December  Balance is stated on Credit side and When it brought down in the current month it will stated on debit side.     

4) Sold goods to Aparna Rs.15,000 at 10% Trade Discount:

Goods are sold to Aparna at Rs.15,000 and allowed her @10% Trade Discount. Whenever the cash received or comes in as an income it will always state on Debit side in the Ledger Account of Particulars. Trade Discount means it is an allowance or concession given by the seller of goods. This discount is allowed at the time of purchase/ Sales of goods on cash as well as credit transactions. Always remember that Trade Discount is not recorded in the books of accounts.    

7) Goods returned by Aparna Rs.1,500 {Gross}.

The goods which are sold to Aparna on 4th of January. She returned some of the goods to Suparna. The entry will be Sales return Account because sold goods are return it will state on the Credit side because when Goods Sold we post sales account on debit side hence, When sold goods are return it will state on Credit Side. Here next to amount Gross is written it means the return goods are on gross amount. Which means calculate trade Discount on the return goods also. See the Calculation Part below the explanatory notes. You will understand more clearly.

11) Received crossed cheque from Aparna Rs.50,000.

Received Crossed Cheque from Aparna means the amount which is not paid by aprana is now paid therefore In the ledger of aprana account Bank account will stated on credit side because suparna received cash from aparna So, in suparna's bank 50,000 is credited thats why in aprana account bank is credited.

17) Invoiced goods to Aprana Rs.12,000.

Invoiced goods means goods are sold to Aprana therefore sales Account is debited to debit side in the ledger of Aprana.

25) Sold goods to Aprana in cash Rs.6,000.

Here, goods are sold to aprana in cash So, the journal entry is:

On Debit side - Cash A/c

On Credit Side - Sales A/c

This transaction is not a credit transaction therefore in the Ledger of aprana No Entry. 

Has you can see in the Journal Entry also.

 30) Received cash from Aprana Rs.33,000 in full settlement of her account.

This Transaction means Aprana as paid is due amount in her full settlement of her account But, she as paid only 33,000 to suprana. The actual amount she has to pay is Rs.34,150. The remaining amount is written as Discount allowed and closed the account of Aprana.

 

Calculation:

4) 15,000 at @10% Trade Discount.

T.D. - 15,000*10/100 = 13,500

T.D. - 13,500

7) 1,500 {Gross}

- 1,500*10/100 = 1,350

Prepare Aparna's account in books of suparna.