Question

4. Journalise the following transactions:
(1) Started business with cash 3,00,000.
(ii) Bought Goods on credit for 5,000.
(i) Sold Goods for cash 12,000 and on credit 8,000​

Answer 1

JOURNAL ENTRY:-

1. Cash a/c. Dr. 3,00,000

To Capital a/c. 3,00,000

(being introduced capital)

2. Purchase a/c. Dr. 5,000

To Creditor's a/c. 5,000

(being goods purchased on credit)

3. Cash a/c. Dr. 12,000

Debtor's a/c. Dr. 8,000

To Sales a/c. 20,000

(being goods sold to a Debtor)

I hope this will help you friend.