Question

2. Journalize the following
transactions.
Month March 2019
1. Abhi started business with
cash Rs. 2,00,000, building Rs.
3,00,000.
5.Paid cash in the Bank of India
Rs. 25,000
10. purchased furniture from
Akshay and issued him a
cheque Rs. 15,000
15.Credit sales to Amit Rs.
10,000 less 3% trade discount.
25.Paid insurance premium on
life of Abhi of Rs. 5,000.​

Answer 1

Step-by-step explanation:

cash acc dr To capital acc

bank acc Dr To cash acc

purchases acc Dr. To bank acc

sales acc Dr Discount acc Dr. To creditors acc

LIC premium acc Dr To casha cc