Triple Column Cash Book Entry for Buying Goods Including IGST @12% - 17920

In a triple column cash book, transactions related to cash and bank are recorded in three separate columns, namely the cash column, bank column, and discount column. The triple column cash book is used to maintain a record of all cash and bank transactions along with discounts allowed or received.

Understanding the Transaction
The given transaction states that goods were bought, including IGST (Integrated Goods and Services Tax), at a rate of 12% for a total amount of 17920. IGST is a part of the Goods and Services Tax (GST) system in India, applicable to inter-state transactions.

Journal Entry
The initial journal entry for this transaction would be as follows:

Purchase A/c Dr 16000
Input IGST A/c Dr 1920
To Supplier's A/c 17920

In this journal entry, the Purchase A/c is debited with the cost of goods purchased, while the Input IGST A/c is debited with the amount of IGST paid. On the other hand, the Supplier's A/c is credited with the total amount, including the cost of goods and IGST.

Triple Column Cash Book Entry
The next step is to record the above journal entry in the triple column cash book. The entry would be as follows:

Date Particulars L.F. Cash Bank Discount
MM/DD/YYYY Purchase A/c Dr 16000
MM/DD/YYYY Input IGST A/c Dr 1920
MM/DD/YYYY To Supplier's A/c 17920

In this cash book entry, the date of the transaction is recorded in the first column. The particulars column includes the accounts affected by the transaction, such as Purchase A/c, Input IGST A/c, and Supplier's A/c. The L.F. (Ledger Folio) column refers to the page number of the respective accounts in the ledger book.

The amount of 16000 is recorded under the cash column, indicating that it is a cash payment. Similarly, the amount of 1920 is also recorded in the cash column. However, the amount of 17920 is not recorded in the cash column because it is not a cash payment. Instead, it is recorded under the Supplier's A/c column.

Summary
To summarize, the triple column cash book entry for the purchase of goods including IGST at a rate of 12% for a total amount of 17920 would involve debiting the Purchase A/c and Input IGST A/c while crediting the Supplier's A/c in the journal entry. This journal entry is then recorded in the triple column cash book, specifying the date, particulars, cash, bank, and discount columns.