Cash Sales

Cash Sales from shop  Item A 1000 kg*15=15000


Credit Sales

Sales made to AC Oberoi and Co 30000 Kg Item A @10 each on 1 August.

Amount received from AC Oberoi Rs 285000 by cheque on 15 August and balance by cash on 18 September


Sales +Direct Income

Item A 15000 Kg @ 20/kg 300000

Item B 5000 Kg @ 40/kg   200000

Total                               500000


Transportation Charges     20000

Total                               520000


Cheque received from Ajit traders for 80% payment.

Balance amount not yet received.



Some amount in advance

The company entered into agreement to sell 2000 kg Item B @ 50/Kg to Khan Traders on 17 September.

 It received 10% payment in advance on 18 September. Sales Bill was issued on 19 September and balance was received on 20 September


  1. Accounts and Finance
  2. Step 2 Passing Routine Entries
Ask Download

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at .