Question

Journalise the following transactions and post the entries into Ledger for April 2019.
2019
April 1 Kiran started business with goods worth 50,000 and cash 2,00,000 out of which 50,000 was
borrowed @ 18% p.a. from his friend Prakash.
2. Advanced 5,000 to Suraj with a order to supply goods worth 30,000,
Paid 5,000 for printing bill books.
10 Goods distributed as free samples 2,500.
17 Paid educational fees of his employee Mr Gagan's son 3,000.
18 Received goods from Suraj as per order dated 2nd April and immidiately settled his account by
paying cash.
24 Bought goods worth 10,000 @ 20% Trade Discount on credit from Akash with instructions to
supply them to Prabhat.
29 Sent outward Invoice to Prabhat for goods supplied by Akash at list price less 10% Trade Discount.​

Answer 1

Answer:

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