Question

Journalise the following transactions and post them in the ledger: 1 Feb 2020 Commenced business with cash Rs. 1,00,000. 5 Feb2020 Deposited into bank Rs. 30,000. 8 Feb 2020 Purchased goods on credit from Raghavendra Rs. 12,000. 12 Feb 2020 Sold goods to Gopi on credit Rs. 12,000. 18 Feb 2020 Paid cash to Raghavendra Rs. 11700 and discount allowed by him Rs. 300. 23 Feb 2020 Received cash from Gopi Rs. 11,600 and Discount allowed to him Rs. 400. 27 Feb 2020 Paid for advertisement Rs. 600. 28 Feb 2020 Paid salary Rs. 2,000. 28 Feb 2020 Paid Rent Rs. 750.​

Answer 1

Answer:

cash 100000

to capital 100000

bank 30000

  to cash 30000

purchase 12000

   to raghavendra 12000

gopi 12000

  to sales 12000

raghuvendra 12000

   to cash 11700

   to discount 300

cash 11600

discount allowed 400

          to gopi 12000

advertisement 600

     to cash 600

rent 750

  to cash 750

Explanation: