Question

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Answer 1

Answer :

Required Journal Entries :

In The Books Of Vijay :

• Cash ac Dr. 60,000

Purchases ac Dr. 20,000

To capital ac 80,000

( Commenced business with cash and goods )

• Purchases ac Dr. 22,500

To Gourishankar ac 22,500

( Purchased goods from Gourishankar )

• Dharmendra ac Dr. 18,000

Trade discount ac Dr. 2000

To sales ac 20,000

( Sold goods to Dharmendra at trade discount )

• Drawings ac Dr. 1000

Purchases ac Dr. 800

To Cash ac 1800

( Withdrew for personal use )

• Purchases ac Dr. 600

To advertisement ac 600

( Goods distributed for advertisement )

Note :

• Write date on each transactions in journal

• Post the amount correctly in debit and credit sides.