Following balances appeared in the books of Radhika Traders as on 1st April, 2017
Assets - Cash 8,000; Cash at Bank 37,000; Stock 30,000; Debtors 36,000
(Mohan 10,000; Sohan 12,000: Dinesh 14,000), Furniture 5.000; Building *25,000.
Liabilities: -- Creditors :
-X 5.000: Y 26,000.
In April, 2017, the following transactions took place:
2017
9,750
25.000
April Bought goods of the list price of 20,000 from Khanna Brothers less 15%
trade discount and 2% cash discount and paid 40% price at the same time.
Received a draft from Mohan in full settlement and deposited it into
Bank
Purchased goods from Suresh of the list price of 8,000 at 20% trade
discount and paid him by cheque.
8 Sold goods and received a cheque
10 Deposited the above cheque into Bank
12 Sohan deposited in our Bank Ale
16. Paid Income Tax by Cheque
20 Received a cheque from Sohan and sent to Bank
Discount allowed
21 Withdrew from Bank for office
For private use
23 Sent a cheque to X in full settlement of his Alc
27. Cheque of Sohan retumed by the bank as dishonoured.
28 Dinesh was declared insolvent and a payment of 60 paise in a received
from his estate by a Cheque
30 Bank allowed interest
Paid for Rent by cheque
Paid for travelling expenses by cheque
Pass Journal entries for the above transactions.
4.000
5,600
7.800
200
2.000
4,000
4.900
350
1.500
500
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