Question

3.Pass the journal entries for the following transactions:
a) Salaries paid $8000 and Salaries owing(due) <2000
b) Ram who owed us *20,000 became insolvent and a final dividend of 60 paise in a rupee is received from
his estate.
c) Purchased machinery for 50,000 by cheque and installation charges of machinery 2.500 paid in cash.
d) Received 38,000 from Krishan Swaroop in full settlement of his account for 40,000
e) Purchased goods from Henry for 50,000 on 10% trade discount and 4% cash discount and paid 60%
amount by cheque
Sinale Column Cash Bank and Balance it:​

Answer 1

Answer:

.Pass the journal entries for the following transactions:

a) Salaries paid $8000 and Salaries owing(due) <2000

b) Ram who owed us *20,000 became insolvent and a final dividend of 60 paise in a rupee is received from

his estate.

c) Purchased machinery for 50,000 by cheque and installation charges of machinery 2.500 paid in cash.

d) Received 38,000 from Krishan Swaroop in full settlement of his account for 40,000

e) Purchased goods from Henry for 50,000 on 10% trade discount and 4% cash discount and paid 60%

amount by cheque

Sinale Column Cash Bank and Balance

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