Question

Journalise the following entries:(i) Goods costing 500 given as charity.(ii) Sold goods to Mayank of 1,00,000, payable 25% by cheque at the time of sale andbalance after 30 days of sale.(iii) Received 975 from Harikrishna in seiv) Received dividend of 60 paise in a rupee from the Official Receiver of Rajan, who owedus 1,000.(v) Charge interest on Drawings 1,500.(vi) Sold goods to Anil costing 40,000 for cash at a profit of 25\% on cost less 20% tradediscount.(vii) Paid cartage of 100 for delivery of goods.viii) Paid income tax * 15,000.​

Answer 1

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