Question

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[Trial Balance Total– 17,500.]
8. You are to open the books of Rajesh, through the Journal to record the assets and liabilities
and then post the transactions to the Ledger for the month of April, 2020:
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2020
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April
April
April
Ari 1 Assets:Premises ? 2,00,000; Delivery Van 750,000; Fixtures 75,000; Stock * 75,000; Debtors: Hariharan 30.000;
Rajhans 50,000; Cash at Bank 45,000; Cash in Hand 30,000
Liabilities: Creditors: Jawahar 1,00,000; Vikas 45,000; Telephone Expenses Payable 34,000; Electricity Expenses
Payable * 4,520: Salaries Payable 7,000.
1 Paid rent by cheque 5,000
2 Goods purchased on credit from Prabhat, Delhi 15,000; Rajan, Delhi 8,000; Passi, Delhi 37,000
3 Goods sold on credit to Rakesh, Gurugram 17,000: Devender, Delhi 25,000;
Paid Telephone Expenses Payable by Cheque
April 4 Paid the bill of petrol expenses for Delivery Van 5,700
April 5 Cash drawings by Rajesh 4,000
April 7 Paid salaries due in the beginning of the year
April 9 Cash sales 5,000
April 11 Goods returned by Rakesh 5,000, Devender 1.000
April 12 Received cheques from debtors: Hariharan 20,000; Rajhans 40,000
April 16 Goods returned to Prabhat 4,000: Rajan 1,000
April 20 Cheques issued to creditors: Jawahar 50,000; Vikas 10,000
April 22 Received cheques from Hariharan 10,000; Rajhans + 10,000; Rakesh 10,000; Devender 25,000
Cheques received from Rakesh and Devender are dated 25th May, 2020.
April 24 Cheques from Rakesh and Devender were discounted from bank paying interest @ 10%p.a.
April 25 Received cash from Devender in full settlement 18,500​

Answer 1

Explanation:

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