Final answer:
Journal entries have been provided to record transactions involving sales on credit, carriage payment, goods return, and settlement with a discount for a transaction with Kamal, utilizing the double-entry bookkeeping system.
Step-by-step explanation:
The student has asked for journal entries that reflect a series of transactions involving sales on credit, carriage payment, returns, and settlement with a discount. To record these transactions, we will use the double-entry bookkeeping method which involves making at least two entries for every transaction: a debit and a credit to maintain the accounting equation.
Journal Entries:
- Sold goods to Kamal on credit
Accounts Receivable Dr 15,000
Sales Cr 15,000
- Paid carriage on behalf of Kamal
Carriage Expenses Dr 2,000
Accounts Payable/Cash Cr 2,000
- Goods returned by Kamal
Sales Returns Dr 2,000
Accounts Receivable Cr 2,000
- Kamal settled his account with discount
Accounts Receivable Dr 13,000
Discount Allowed Dr 1,300
Cash (or Bank) Cr 11,700
Note that the settlement entry assumes that the total receivable was decreased by the return (15,000 - 2,000 = 13,000), and the 10% discount was calculated on the adjusted receivable amount, resulting in the 1,300 discount.