Question

journal entries in the book of Mr Naresh.
(l) started business with 100000
(ll) purchased goods from gautam of rs. 1000 at 10% trade discount ​

Answer 1

Answer :

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Journal Entries :-

① ⏩ Cash Ac Dr....100000/-

To, Capital Ac Cr...100000/-

( Being started business with cash )

② ⏩ Purchase Ac Dr...1000/-

To, Gautam Ac Dr...1000/-

(Being goods purchased in cash )

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