Question

Journalise the following transaction in the books of Sankalp general stores 2020
July 1 Started business with cash rs.100000,stock of goods worth rs.50000,and computer rs.50000
July 4 Purchased goods from kareena on credit rs.10000 at 5% discount
July 10 Sold goods to Priyanka rs.20000 at 10% discount
July 13 Paid in to state bank of india rs.50000
July 15 Goods worth rs.2000 lost by theft
July 18 Paid for rent rs.4000
July 20 Received cash of rs.17500 from Priyanka in full settlement of her account
July 25 Paid for stationery purchased rs.8000

Answer 1

Answer:

cash ac dr 100000

purchases ac dr 50000

computer ac dr 50000

to capital 200000

purchases ac dr 10000

to kareena 10000

(discount don't calculate becoz it is trade discount)

priyanka ac dr 20000

to sales ac 20000

sbi ac dr

to cash

loss by theft ac dr

to purchases ac

rent ac dr

to cash ac

cash ac dr 17500

discount ac dr 2500

to priyanka ac 20000

stationery ac dr

to cash

Explanation:

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