Question

Journalise the following transactions in the books of Rajwade Trading Company
2019
May ! Started business with Cash 1,00,000, Bank Balance 32,00,000 and Building 32,00,00
3 Purchased goods from Ram of 50,000at 18% GST.
5 Sold goods to Rakesh of 70,000 at 18% GST for Cash.
7 Paid for Repairs 75,000.
10 Placed an order with Ranveer and Sons for goods 360,000 at 12%GST
15 Paid for Wages ? 15,000.
18 Purchased goods from Mohan of 10,0000 at 12% GST.
20 Paid for Conveyance Expenses 7,000.
25 Purchased goods from Kishor of 50,000 at 28% GST and paid half the amount by
Cheque
30 Purchased Machinery of 50,000 at 18% GST and half the amount paid immediately by
Cheque

Answer 1

Answer:

1. concessions given for immediate payment