Please do both the transactions please Sold gcods 5 000 to Anit less A"' "ogcods 20 000 - Accountancy - Recording of Transactions - I

Question

Please do both the transactions please

Neha Chopra · Accepted Answer

Dear Student

Journal

Date

Particulars

Debit

Credit

Anita
A/c

Dr

5,376

To
Sales A/c

4,800

To
Output CGST A/c (4,800 x
6%)

288

To
Output SGST A/c

288

(Being goods costing Rs 5,000
sold at profit of Rs 1,000 (20% of 5,000) less Rs 1,200 (Sales
price x 20%), GST @ 6% is
leived)

Sunil
A/c

Dr

22,550

To
Cartage A/c

150

To
Sales A/c

20,000

To
Output CGST A/c (20,000 x
6%)

1,200

To
Output SGST A/c (20,000 x
6%)

1,200

(Being goods costing Rs 20,000
sold at profit of Rs 5,000 (25% of 20,000) less Rs 5,000 (Sales
price x 20%),Cartage @ Rs 150 to be collected from customer, GST @
6% is leived)

Please note that:
1 Both the sales are considered as Intra state sales
2 GST on Cartage is not levied because as per GST rules if Freight
is less then Rs 750/- then GST is not applicable on freight

Regards