Question

Journalise the following transaction: (15) 2019 May 1. Started a business with cash Rs 60000 4. Purchase goods for Rs 20000 at 10% Trade discount and 5 % cash discount. 5. cash sales Rs 50000 7. Goods distributed as free sample Rs 7000. 11. Paid wages Rs 7500 & rent Rs 9000 by cheque 13. Purchase furniture Rs 180000 @ 12% GST and amount paid by cheque. 15. Sold goods to Amar Rs 90000 @ 28% GST and half amount is paid. 16. Cash deposited in to bank Rs 70000. 22. Paid travelling expenses Rs 240 30. Goods loss by fire Rs 10000 and insurance co. claimed Rs 7500.
Yes, ananya?​

Answer 1

Hope, it helps (working notes are also available)

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