Question

Journalise the following transactions in the books of ganesh & co.
2017
March 5. Purchased furniture worth 20,000 and tools worth 5,000

Answer 1

Journalise the following transaction

purchase furniture worth 20,000 and tools worth 5000

$\color{red} \bf {furniture \: account \: dr \: 20000}$

$\color{red} \bf {tools \: account \: dr \: 5000}$

$\color{hotpink} \bf{ \: \: \: \: to \: cash \: account \: 25000}$

Note÷ Furniture and tools account are debited to cash account because assets are increasing & nature of asset is debit ...Hence cash account is credited because asset decreases as cash goes out of the business....

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Answer 2

Answer:

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