Question

Commenced business with Cash 20,000.
Purchased goods on credit from Ajay 10,000.
Cash Sales* 7,000.
Received commission 500.
Paid Rent 800.​

Answer 1

Answer:

1.cash A/C 20000

To capital A/C 20000

2.purchase A/C 10000

To ajay A/C 10000

3.Cash A/C 7000

To sale A/C 7000

4.cash A/C 500

To commision 500

5.rent 800

To cash A/C 800