The following transactions were extracted from the books of Adamu, a sole trader for the month of March 2016. March 4: Sold 80 bags of maize on credit to Papuk at N255 per bag subject to a trade discount of 5%. March 10: Sold goods on credit to Abass for N1,170. March 15: Received a cheque from Papuk for the amount due, less a discount of 10%. March 20: Received cash of N900 from Abass. You are required to prepare: (a) Sales Journal; (b) Customers' Accounts in the Sales Ledger; (c) Sales Ledger Control Account
Explanation
Adamu
Dr
Sales journal
Cr
Date
Particulars
Details (N)
Total (N)
March 4
Papuk 80 bags of rice @ N255 per bagLess: 5% discount
20,4001,020
19,380
March 10
Abass - GoodsTransferred to sales account
1,17020,550
(b) Papuk Account
Dr (N)2016 march 4: sales 19,380 19,380
Cr (N)2016 march 15: Bank 17,442Discount allowed 1,938 19,380
Abass Account
Dr2016 march 10: sales 1,170 1,170April 1 Balance b/d 270
Cr2016 march 20: cash 900 30: Balance c/d 270 1,170
Sales ledger control account
Dr2016March 31: sales 20,550 20,550 April 1: Balance b/d 270