Topic Content:
- Worked Examples (Special Journals)
Example 3.8.1:
On 10/12/2018: Sold to Peter and Sons Ltd, 20 bags of cement at ₦2000 each, on credit.
On 15/12/2018: Sold to Mama Ruth, 5 bags of Rice at ₦20,000 on credit.
You are required to prepare the sales day book of Musa and Sons Ltd.
Solution
Musa & Sons Ltd: Sales Journal
The total Sale for December 2018 is ₦140,000. It should be credited to the sales account in the general ledger, while customers’ accounts are debited.
Example 3.8.2:
Aunty Faith bought both following goods on credit from John Holt Ltd.
Feb. 1, 2020 Office pin (1 packet): ₦250
Feb. 2, 2020 Office computer: ₦75,000
Feb. 20, 2020 Office furniture: ₦5,000
Prepare a purchase daybook.
Solution
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