Question

A and B enter into a joint venture to ship goods abroad. A sends goods to the Value of
1,000, pays freight 100 and sundry expenses 150. These transactions take place on
1st January, 2020. B sends goods valued at $ 750 on February 1st and pays freight and
insurance 80 and sundry expenses 50. B advances to A on March 1st * 450 on account
of the venture. A receives account sales and remittance and net proceeds for whole of the
goods amounting to 2,500 on 1st April. Final settlement between A and B is made on
30th April, 2020. Show these transactions of the venture in the books of A calculating
interest at 5% p.a. in months.​

Answer 1

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Answer 2

Answer:

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