Question

Analyse the following transactions according to the modern approach and.
state the accounts to be debited or credited.
a. Purchased goods from Shyam on credit Rs.50,000
b. Sold goods to Mahesh on credit Rs.10,000
c. Borrowed from Rohan 20,000
d. Received cash from Mahesh 5,000
e. Interest allowed by bank 3,000
f. Paid installment of loan 5,000

Answer 1

Answer:

see explanation

Explanation:

1 purchase a/c Dr 50,000

to shyam 50,000

2 sales a/c Dr 10,000

to mahesh 10,000

I know this 2 so I answered

Answer 2

Explanation:

Purchase A/c...dr

To Shyam A/c

Mahesh A/c...dr

To Sales A/c

Cash A/c..dr

To Rohan A/c

Cash A/c...dr

To Mahesh A/c