Question

2. Juulllduse.
(i) Goods worth 400 were given as charity out of business.
(ii) Received cash 500 of a debt written off last year.
(ii) Interest charged on drawings @ 5%. Total drawings were * 10,000.
olice the following transactions :
T​

Answer 1

Answer:

1. Charity a/c.................... Dr. 400

To Purchase a/c 400

2. Cash a/c....................,...Dr. 500

To Bad Debt Recovery a/c 500

3. Drawings a/c.................Dr. 500

To Interest on Drawings a/c 500