Buyers Book
Periodic Method
Jan 1: Purchase of Inventory on Credit at
1,00,000 Taka (3/12, N/45):
Purchase Account Dr – 1,00,000
Accounts Payable Cr – 1,00,000
Jan 1: Payment of Wages 5000, Freight In 3000
and Import Duty 2000:
Wages Account Dr – 5000
Freight In Account Dr – 3000
Import Duty Account Dr - 2000
Cash Account Cr – 10,000
Jan 3: Purchase Return 20,000 Taka:
Accounts Payable Account Dr – 20,000
Purchase Return Account Cr – 20,000
Jan 10: The remaining balance of A/P has been
settled:
Accounts Payable Account Dr – 80,000
Purchase Discount Account Cr - 2400
Cash Account Cr – 77,600
Perpetual Method
Jan 1: Purchase of Inventory on Credit at
1,00,000 Taka (3/12, N/45):
Inventory Account – Dr 1,00,000
Accounts Payable Cr – 1,00,000
Jan 1: Payment of Wages 5000, Freight In 3000
and Import Duty 2000:
Inventory Account Dr – 10,000
Cash Account Cr – 10,000
Jan 3: Purchase Return 20,000 Taka:
Accounts Payable Account Dr – 20,000
Inventory Account Cr – 20,000
Jan 10: The remaining balance of A/P has been
settled:
Accounts Payable Account Dr – 80,000
Inventory Account Cr - 2400
Cash Account Cr – 77,600
 Seller’s Book
Periodic Method
Jan 1: Sales of goods on credit at 1,00,000 Taka. Jan 1: Sales of goods on credit at 1,00,000 Taka.
(3/12, EOM), The CoGS is 80,000 Taka:
Accounts Receivable Account Dr – 1,00,000
Sales Revenue Accounts Cr – 1,00,000
Jan 1: Freight Out paid 2000 Taka:
Freight Out Account Dr – 2000
Cash Accounts Cr – 2000
Jan 3: Sales Return at 20,000 Taka:
Sales Return Account Dr – 20,000
A/R Accounts Cr – 20,000
Feb 9: Settlement of A/R:
Cash Account Dr – 77,600
Sales Discount Account Dr - 2400
A/R Accounts Cr – 80,000
Perpetual Method
(3/12, EOM), The CoGS is 80,000 Taka:
Accounts Receivable Account Dr – 1,00,000
Sales Revenue Accounts Cr – 1,00,000
Cost of Goods Sold Account – Dr 80,000
Inventory Account Cr – 80,000
Jan 1: Freight Out paid 2000 Taka:
Freight Out Account Dr – 2000
Cash Accounts Cr – 2000
Jan 3: Sales Return at 20,000 Taka:
Sales Return Account Dr – 20,000
A/R Accounts Cr – 20,000
Inventory Accounts Dr –
Cost of Goods Sold Cr -
Feb 9: Settlement of A/R:
Cash Account Dr – 77,600
Sales Discount Account Dr - 2400
A/R Accounts Cr – 80,000