Question

20) Journalise the following Transaction in the books of Aman. i) Commenced business with cash ₹100000. ii) Received cash from Mahesh ₹5600, Discount Allowed ₹ 400. iii) Drew cash for Personal use ₹2200. iv) Paid Rent ₹1800. v)Cash paid to Sudhir ₹26700, Discount Allowed ₹300. vi) Sam become Insolvent, who owed ₹2000.​

Answer 1

cash A/C debit 100000

to capital A/C credit 100000

cash A/C debit 5600

discount A/C debit 400

to mahesh A/C credit 5200

drawing A/C debit 2200

to cash A/C credit 2200

rent A/C debit 1800

to cash A/C credit 1800

sudhir A/C debit 26400

to cash A/C credit 26700

to discount A/C credit 300

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