Reference no: EM132550948

1 Jan, 2019 Purchased Ladies shoes from supplier on account. The Total cost of purchase amounted to Rs.200,000.

3 Jan Purchased Furniture Items for outlet form Inter wood for Rs.100,000 Cash.

6 Jan Sold shoes to customers for Rs. 150,000 cash, which had a total cost of Rs.50,000.

10 Jan Sold shoe stock to a distributor on account for Rs. 400,000. The Cost of home appliances was Rs. 200,000.

15 Jan Paid Rs. 200,000 accounts payable to supplier.

20 Jan Collected Rs. 400,000 accounts receivables from the distributor.

Required:

Question a. Prepare Journal entries to record the transactions; assuming Bata Pakistan uses Perpetual inventory system.

Question b. Prepare Journal entries to record the transactions; assuming Bata Pakistan uses Periodic inventory system.