Question

Going concern Concept.
25. Joumalise the following transactions in the books of Mathur Bros.
2019
Feb.5 Purchased goods from Manohar Lal of the List prioce of Rs. 50,000 for Rs.
46,000.
Feb 17 Purchased goods costing Rs. 1,00,000 from Sahil & Co.Paid 60% Immediately
by cheque to avail 5 % discount
Feb 24 Sold goods to Kishore & Co. of the list price of Rs. 40,000 for Rs. 38,000.
Feb. 26 Sold to Kanika & Co. goods costing Rs. 1,00,000 at 20 %. profit, allowing 10
Strade discount and 5 % cash discount. Kanika & Co, made 40 % payment
immediately by choque.​

Answer 1

Answer:

Goods purchase A/c.........Dr. 46000

To Manohar Lal A/c. 46000