Journal entries in consignee books

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Rupinder Singh

Rupinder Singh (Querist)
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01 October 2016 Sir / Maam,

Can any body give me the journal entries in consignee books.

Regards
Rupinder Kaler

Amresh Joshi

Amresh Joshi (Expert)
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07 October 2016 The entries to be passed in the books of consignee are as under:
1.0 Expenses paid on behalf of consignor
Consignor A/C Dr
To Bank

2.0 Advance sent to consignor
Consignor A/C Dr
To Bank
3.0 Sale made on behalf of consignor
Bank A/C Dr
To Consignor
4.0 Credit sale made on behalf of consignor
Debtors A/C Dr
To Consignor
5.0 commission charged to Consignor
Consignor A/c Dr
to Commission
6.0 Bad debts by debtor but to be borne by consignor
Consignor A/c Dr
To Debtors
7.0 Bad debts by debtor and not to be born by consignor
Bad debts A/C Dr
To Debtors A/C
8.0 cash received from debtors
Cash A/C Dr
To Debtors
9.0 Bad debts transferred to commission A/C
Commission A/C Dr
To Bad debts
10.0 Commission transferred to P&L Account
Commission A/C Dr
To P&L A/C
11.0 Payment to Consignor
Consignor A/C Dr
To Bank
12.0 B/p Accepted for consignor
Consignor A/C Dr
To B/P A/c
13.0 B/p paid
B/p A/c Dr
To Bank

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