Chapter 17 – Rectification Of Errors – TS Grewal 2022
Miscellaneous Transactions
Question 26
Q26. Pass Journal entries rectifying the following errors:
(i) A cheque for 10,000 was received from Ranjan on which 200 Cash Discount was allowed. The cheque was not honoured on due date and the amount of discount was credited to Discount Received Account.
(ii) 2,000 paid as wages for machinery installation was debited to Wages Account.
(iii) 5,000 received from Rakesh were credited to his Personal Account. The amount had been written off as bad debts earlier.
(iv) Repair bill of machinery was recorded as 100 against the bill amount of 1,000.
Solution
Pass Journal entries rectifying the following errors – Q26
