(ii) Give journal entries for the following transaction in the books of Partap Rai :
March 1
Started business with cash
100000
March 2
Cash Purchases
48000
March 3
Sold goods to vasudev
10000
March 6
Returned defective goods by vasudev
1000
March 8
Received cash from vasudev and
discount allowed
8800
200
March 9
Chanderkant sold goods to us
20000
March 10
Pritam purchased goods from us
12000
March 10
Paid insurance premium
500
March 12
Paid for life insurance premium of Sh. Pratap Rai
Answers
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Answer:
1. cash alc dr.
To capital alc
(being start business)
2. Purchase alc dr.
To cash alc
( being purchase in cash )
3. Vasudev dr.
To sales alc
(being sale goods to Vasudev)
4. return alc dr.
To Vasudev
( being return defective goods)
Answered by
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Answer:
Chanderkant sold goods to us
20000
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