Question

journal entry

A business is commenced with
introduction of cash Ro. 400,000
receivable Rs. 60,000 stock of
goods Rs. 50,000 and payables of
Rs. 30,000.​

Answer 1

Answer:

Journal entry will be:

cash a/c. Dr. 4,00,000

Debtors a/c. Dr. 60,000

Stock a/c. Dr. 50,000

To Capital a/c. 4,80,000

To Creditors a/c. 30,000

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