Question

Journalise the following transaction and prepare a ledger accounts in the book of Mudit..
2017 Jan 01Commenced business with cash 1,75,000 Jan02 Building 1,00,000 Jan03Goods purchased for cash 75,000 Jan04Sold goods to Ramesh. 30,000 Jan06Sold goods for cash 10,000 Jan10Paid for trade expenses. 700 Jan12Cash received from Ramesh. 29,500 Discount allowed 500 Jan14Goods purchased for Sudhir. 27,000 Jan18Cartage paid 1,000 Jan20Drew cash for personal use. 5,000 Jan22Goods use for house hold 2,000 Jan25Cash paid to Sudhir. 26,700 Discount allowed. 300
please give me the answer of ledgers​

Answer 1

Answer:

Jan10Paid for trade expenses. 700 Jan12Cash received from Ramesh. 29,500 Discount allowed 500 Jan14Goods purchased for Sudhir. 27,000 Jan18Cartage paid 1,000 Jan20Drew cash for personal use. 5,000 Jan22Goods use for house hold 2,000 Jan25Cash paid to Sudhir. 26,700 Discount allowed. 300