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Posting and Balancing in Sales Book

At the end of the month, the individual entries and the total of the Sales book column are posted into the ledgers as under.
 

Step 1: Entries are posted to the debit side of customers’ accounts by writing “To Sales A/c” in the particulars column.
 

Step 2: Periodic totals of the Sales book are posted to the credit of Sales account as “By Sundries as per Sales book” in the particulars column.
 

Illustration 2

 

From the following transactions, post the transactions in the Sales book of RR Ltd., a Jeans dealer.

 

Date

Invoice No.

Particulars

06-01-2012

1002

Sold on credit to Chanda Retailers, 50 Jeans at ₹ 300

10-01-2012 1003 Sold for cash to Rajmahal Boutique, 40 ‘X Category’ Jeans at ₹ 350
19-01-2012 1004 Sold on credit to Men’s Mart, 75 Jeans at ₹ 250
31-01-2012 1005 Sold on credit to Lajpat & Co., two typewriters at ₹ 5,500

 

Dr.

Sale account

Cr.

Date

Particulars

L.F.

Amount

Date

Particulars

L.F.

Amount()

2012

 

 

 

2012

 

 

 

Jan. 31 To Balance c/d 47,750 Jan. 10 By cash 14,000
      Jan. 31 By sundries as per sales Book 33,750

 

 

 

47,750

 

 

 

47,750


Solution

 

Date

Invoice No.

Name of Customer

L.F.

Details

Amount ()

2012 Jan. 06

1002

Chanda Retailers

 

50 @ 300

15,000

Jan. 19 1004 Men’s Mart 75 @ 250 18,750

Jan. 31

 

Sales Account (Credit)

 

 

33,750

 

Note:
Cash Sales on 10-01-2012 will be recorded in Cash book.
Credit sale of typewriters will be recorded in general journal.
In Sales book, only credit sales of merchandise (i.e. goods in which firmdeals in) are recorded.





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