Question

Journalise the following transactions
2005
Feb 1
Sold goods for cash #1,300
Feb 2
Purchased goods * 400
Feb 3
Purchased goods from Kumar + 3,000
Feb 4
Sold goods to Prabu 2000
Feb 5
Received cash from Prabu # 1,200
Feb 6
paid to Kumar * 1000
Feb 7
Paid Salary + 700​

Answer 1

JOURNAL ENTRY:-

2015

1-feb Cash a/c Dr. 1300

To Sales a/c. 1300

(being goods sold for cash)

2-feb Purchase a/c. Dr. 400

To Cash a/c. 400

(being goods purchased by cash)

3-feb Purchase a/c. Dr. 3,000

To Kumar's a/c. 3,000

(being goods purchased from Kumar)

4-feb Prabu's a/c. Dr. 2,000

To Sales a/c. 2,000

(being goods sold to prabu)

5-feb Cash a/c. Dr. 1,200

To Prabu's a/c. 1,200

(being cash received from Prabu)

6-feb Kumar's a/c. Dr. 1,000

To Cash a/c. 1,000

(being cash paid to Kumar)

7-feb Salary a/c Dr. 700

To Cash a/c 700

(being paid salary to employees)

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