Question 43 of 45intermediate🔧 ApplyNumerical4 marks

Prepare Return Inward Journal (Book) from the following transactions of M/s Bansal Electronics for July 2017: 2017 July 04 M/s Gupta Traders returned the goods 1,500 10 Goods returned from M/s Harish Traders 800 18 M/s Rahul Traders returned the goods not as per specifications 1,200 28 Goods returned from Sushil Traders 1,000

Correct Answer

Return Inward Journal (Book) of M/s Bansal Electronics

DateCredit Note No.Name of CustomerL.F.DetailsAmount (₹)
2017
July 04—M/s Gupta TradersGoods returned1,500
July 10—M/s Harish TradersGoods returned800
July 18—M/s Rahul TradersGoods returned not as per specifications1,200
July 28—Sushil TradersGoods returned1,000
Total4,500

Total of Return Inward Book (Sales Return): ₹4,500

Exercise: Numerical Questions | Q: 16
For More Understanding

Explanation

The Return Inward Journal (also called Sales Return Book) records all goods returned by customers. The total of ₹4,500 is verified by adding all individual transactions: ₹1,500 + ₹800 + ₹1,200 + ₹1,000 = ₹4,500. This matches the textbook answer. Since no GST details or Credit Note numbers are provided in the question, a simple format is used. The L.F. column remains blank as it would be filled during ledger posting.

Solution Steps

  1. Step 1: Identify all return inward transactions for July 2017

  2. Step 2: Record each transaction with date, customer name, and amount

  3. Step 3: July 04 - M/s Gupta Traders returned goods: ₹1,500

  4. Step 4: July 10 - M/s Harish Traders returned goods: ₹800

  5. Step 5: July 18 - M/s Rahul Traders returned goods (not as per specifications): ₹1,200

  6. Step 6: July 28 - Sushil Traders returned goods: ₹1,000

  7. Step 7: Calculate total: ₹1,500 + ₹800 + ₹1,200 + ₹1,000 = ₹4,500

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