Recording of Transactions-II

The above stated transactions will be entered in a sales journal as follows: Books of Koina Suppliers Sales (Journal) Book Invoice Name of the customer No. (Account to be debited) April Raman Traders , April Nutan Enterprises , April Raman Traders , April , , Posting from the sales journal are done to the debit of customer’s accounts kept in the ledger. Like the purchases journal, individual customer’s accounts are generally posted daily, with the amount involved. The sales journal is also totaled periodically (generally monthly), and this total is credited to sales account in the ledger. The sales (journal) book illustrated above will be posted in the related ledger account in the following manner: Raman Traders Account Apr. , Apr. , Nutan Enterprises Account Apr. , Sales Account Sundries as , , per sales book . Sales Return (Journal) Book This journal is used to record return of goods by customers to them on credit. On receipt of goods from the customer, a credit note is prepared, like the debit note referred to earlier. The difference between the credit not and the debit note is that the former is prepared by the seller and the latter is prepared by