Question

Enter the following transactions in the Journal: 2018 Jan. 1 Started business with cash Rs. 150000 and Building worth Rs. 250000. Jan. 3 Purchased goods worth Rs. 80000 at 20% trade discount and 5% cash discount from Shree Traders. Paid half amount in cash immediately. Jan. 5 Sold goods to Abhinay worth Rs. 50000 at 15% trade discount and 6% cash discount. Received ¾ in cash.Jan. 10 Purchased furniture of Rs. 25000 and paid carriage on it Rs. 1500. Jan 12 Sold goods of Rs. 12000 at 15% trade discount and 3% cash discount.

Answer 1

Answer:

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