Question

Journalise the following transactions
2017 Dec (1) Bhanu Commenced business with cash 1,00,000/-
(2) Purchased goods on credit from Ramesh 40,000/-
(3) Sold goods for cash 30,000/-
(4) Paid Salaries 3,000/-
(5) Furniture purchased for cash 10,000/-
(6) Borrowed from bank 50,000/-
(7) Sold goods to sarita 10,000/-
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(8) Cash paid to Ramesh on account 20,000/-
(9) Rent paid
1500/-​

Answer 1

Answer:

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Explanation:

1. cash account debit to capital account 1,00,000

2. purchase account debit to Ramesh account 40,000

3. cash account debit to sales account 30,000

4. salaries account debit to cash account 3,000

5. furniture account debit to cash account 10,000

6. cash account debit to loan from bank account 50,000

7. Sarita account debit to sales account 10,000

8.

cash account debit 20,000

discount allowed account debit 20,000

to Ramesh account 40,000

9. rent account debit to cash account 1,500