Question

9. Pass the following Journal entries
2020
May 02
Goods sold to Narmada for Rs 24000
May 06
Goods purchased form Rajesh for Rs 59000
May 12
Insurance Premium Paid by cheque of Rs 35000
May 18 Cheques received from Manu of Rs 16000
May 24 Sum paid Rs 14000 in cash.
May 25
Payment of salary made in cash for Rs 24000
May 30
Goods purchased form John on credit for Rs 32000​

Answer 1

Explanation:

narmada 24000

to sales 24000

(being goods sold to narmada)

Purchase 59000

to Rajesh 59000

( Being goods purchased from rajesh)

Insurance Premium 35000

To Bank 35000

(Being insurance premium paid by cheque)

Bank 16000

To Manu 16000

(Being cheque received from manu)

Salary 24000

to cash 24000

(salary paid in cash)

Purchase 32000

To John 32000

(being goods purchased from John on credit)