Question

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.​

Answer 1

1) cash dr. 2,50,000

inventory dr. 40,000

to capital 2,90,000

2) purchase dr. 50000

to Binod 50000

3) priyanka dr. 30000

to sales 30000

4) Binod dr. 50000

to cash 48500

to discount received 1500

5) cash dr. 29750

discount allowed dr. 250

to priyanka 30000

Answer 2

Answer:

Step-by-step explanation: