Question

(2) Journalise the following transactions in the journal of Vijay for the month of June, 2019.
June 1 Mr. Vijay commenced his business with cash 40,000, Building * 4,50,000 and Bank balance
* 1,70,000/-
3 Bought Goods worth 21,000/- on credit from 'Avi' with trade discount at 5% at 12% GST.
4 Sold goods of * 25,600/- with a cash discount of 1,200/-.
5 Paid wages 12,000.
8 Goods costing * 4,000 were distributed as free samples.
Paid Insurance premium for business office 2,000/- and for the life of the owners wife 1,800/- by
cheque.
14 Invested * 10,000 by cheque in Debentures of XYZ Co. Ltd.
30 Settled Avi's A/c by issuing a cheque of the necessary amount after deducting Cash Discount at 3%.
Hint: June 3rd : CGST = 1,197 and SGST = * 1,197, Net Purchase price = 22,344
please Help....​

Answer 1

Answer:

I have no idea of this question sorry about this

Answer 2

Explanation:

settled Avi's A/c by issuing a cheque of the necessary amount after deducting cash discount at 3%