On May 3, purchased raw materials (cloth) from Vardhman Thread Company for `5,00,000 on credit but returned `1,50,000 worth of cloth due to different quality on May 4. On July 15, sold goods...

On May 3, purchased raw materials (cloth) from Vardhman Thread Company for `5,00,000 on credit but returned `1,50,000 worth of cloth due to different quality on May 4.

On July 15, sold goods (garments) on credit to Fancy Ladies Showroom `15,00,000, but due to bad quality Fancy Ladies Showroom returned garments worth `1,50,000 on July 17.