Question

Journal entries for the following transactions:

Answer 1

Answer:

purchase A/c - dr. 80,000

to cash. 78,400

to discount 1600

advertising a/c dr. 80000

to goods a/c. 80000

Drawings a/c dr. 55000

to bank a/c 55000

cash a/c dr. 70 paise

discount a/c dr. 30 paise

to Mukul's a/c. 1 rupees

purchase a/c dr. 40000

to cash a/c. 6000

to shyam tools ltd a/c. 34000

carriage a/c dr. 3000

to cash a/c. 3000