Question

Jan.
Jan.
Credit Balance on January 1, 2014:
Trade Payables: Anand 35,000, Capital 255,000
Following were further transactions in the month of January, 2014:
1 Purchased goods worth 35,000 for cash less 20% trade discount and 5% cash discount
4 Received 1.980 from Vijay and allowed him 20 as discount
8 Purchased plant from Mukesh for 15.000 and paid 100 as cartage for bringing the plant to the factory
and another 3200 as installation charges.
Jan.
12 Sold goods to Rahim on credit 3600
15 Rahim became insolvent and could pay only 50 paise in a rupee.
18 Sold goods to Ram for cash 1,000.
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Answer 1

Answer:

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