Page 97 - Book-keeping for Secondary Schools Student’s Book Form One
P. 97
Ledgers
Debit: trade payables account
Credit: purchases returns account
Example 5.3
Record the following transactions in the purchases daybook and the purchases returns
FOR ONLINE READING ONLY
daybook and then post the items to the relevant subsidiary ledger and general ledger.
2020 July 1 Bought from Tom Ltd.:
10 bags of rice each weighing 5kgs @ TZS 10,000
20 bags of sugar each weighing 10kgs @ TZS. 15,000
9 Bought from Asha:
10 dozens of books @ TZS 2,000
5 cartons of ruled papers @ TZS 30,000
16 Bought goods from Katabo for TZS 60,800
29 Bought from Mwanaidi:
15 pairs of sandals @ TZS 15,000
14 boxes of drawing pens @ TZS 5,000
The following goods were returned during the month:
July 8 Tom Ltd. returned:
2 bags of rice, each weighing 5kgs @ TZS 10,000 because they had
expired.
4 bags of sugar, each weighing 10kgs @ TZS 15,000 because they had
expired.
18 Asha returned:
4 dozens of books @ TZS 2,000 because they were of the wrong
specification.
1 carton of ruled papers @ TZS 30,000 because it was not ordered.
29 Katabo returned:
Goods worth TZS 14,800 because they were spoiled.
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