Compound Journal Entries
4A, Journalise the following transactions :
Date
1 March, 2019
5 March, 2019
10 March, 2019
20 March, 2019
22 March, 2019
Particulars
Started business with cash 2,50,000 and goods worth 40,000.
Goods purchased from Binod Agarwal * 50,000.
Goods sold to Priyanka 30,000.
Paid to Binod Agarwal 48,500 in full and final settlement to his account.
Received from Priyanka 29,750 and discount allowed 250.
Answers
Answered by
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Explanation:
2019
1 march - cash a/c. dr. 2,50,000
stock a/c. dr. 40.000
to capital a/c. 2,90,000
( Being business started with cash)
5 march. - purchase a/c. dr. 50,000
to Binod Agarwal. 50,000
( being goods purchased)
10 march. - priyanka a/c. dr. 30,000
to sales a/c. 30,000
( being goods sold to priyanka)
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