Question

3500 DE
Discount allowed A/C
• Journalise the following transactions and post them to ledger
2017

July 1 Cash in hand
50000
5 Goods purchased by cash
30000
7 Insurance paid 2500

10 Machinery purchased for cash
9000
15 Interest received 2000
18 Goods sold for cash
7,000​

Answer 1

Goods purchased on cash ₹30,000

Purchase account dr .30,000

• To Cash account.......30,000

( being goods purchased on cash )

Machinery purchased for cash

Machinery account dr .9000

• To Cash account.....9000

( being machine purchase on cash )

Insurance paid2500

Insurance account dr .2500

• To Cash account.......2500

( being insurance paid on cash )

Interesr received ₹2000

Cash account dr 2000

• To interest account..2000

( being cash come in from interest )

Goods sold for cash ₹7000

Cash account dr 7000

• To sales account .7000

( being goods sold on cash )

Hope its helps u ...☺️